Silver Price Charts With Wave Count

Silver price charts have predictive numbers built into them...lets see if that is the case with the current price chart. As you might know I've been advocating buying silver and gold for over 4 years now. And I thought now would be a good time to bring our forecast up to date by looking at the current big picture.

We've been looking for both the silver and gold to go much higher and continue in its up trend which stated in 2000. That trend we expect to continue into 2014 with price advancing many times higher than they are now.

Most knowledgeable experts are looking for gold to go to 2500, with some estimates as high as 7000. Four years ago we had pegged the 2600 to 3500 by 2011 and this prognosticator is happy with that senario for now.

Silver on the other hand will outpace gold by more than 2 to 1, and could do it by as much as 4 to 1. What would that mean for the price of silver? Well quite simply it means 150 to 160 dollars an ounce.

That's the really big picture, but lets move in a little closer and look at some current charts to see what the rest of 2008 will bring.

Right now we will concentrate on silver, as silver will go up three times faster than gold during the next bull run. There are many reasons for that and we will get into that in the near future.

The first chart is a monthly chart of Silver which shows the major trend contained within the blue up channel and shows a large Elliott Wave count with large wave 4 completed and in the process of working to complete the 5th wave up.

Silver Price Charts Monthy With Wave Count

The immediate trend is within the red channel and shows price working to complete its 4th wave down. Once complete, which it now may be, look for price to move up to finish its 5th wave up.

The upper blue and red channel lines cross in July of this year which would mean the final rush to finish wave 5 should commence soon. If the 2 year high to high cycle continues we could reach the high as soon as May. If it turns out the shorter 17 week cycle high to high is dominate....look for the high in early July.

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