By: Jeff Cooper

Hit and Run Bonus Report: July 14, 2023

Why  Silver Is Going To $50 For The 3rd Time

“We estimate the Silver market is entering a period of tightness unseen for decades. This may not be alleviated by higher Silver prices.”
-ANZ Bank Report

A weekly AGQ (ultra silver bull) looks ready for another spike into August.

Silver/AGQ has been in a correction since spiking to a high in August 2020.It broke out of a 3 year declining trend line in March 2023, pulled back to backtest the pivot and exploded this week.

A daily AGQ shows back to back consecutive gaps.

A daily SLV shows upside acceleration in October 2022  produced a high 180 days/degrees later in April.

90 days/degrees later SLV is accelerating here in July

A big picture monthly shows the 2011 test of the $50 high in 1980.

SLV broke out in April followed by 2 consecutive monthly lower lows putting it in the monthly Plus One/Minus Two buy position.

It is breaking out again and follow thru suggests the 2nd mouse will get the cheese.

Clearing a Neckline in the 24 region projects to 32.

This ties to The Square of 9 Wheel which projects 360 degrees up from 16 is 35.Guess what level is 180 degrees up from the 16 low?  24.

So above 24 opens the door to 35…above the inverse Head and Shoulders projection.

Remarkably, a full 540 degree cycle up from 16 projects to 48/49, the all-time highs from 1980 and 2011.