Is Silver the New TSLA?

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On Tuesday, SLV gapped up $1 to 19.52, exploding over a 4 year trendline.

Yesterday’s surge coincided with a Rule of 4 Breakout… a breakout over a 3 point trendline.

The 3 points are July/August 2016, August/September 2019 and February 2020.

This year’s low occurred on March 10.86.

A Square of 9 below shows that 10.86 (red) is opposite March 23, within a few days/degrees of the low.

180 degrees up from low is 19 (purple).

SLV closed decisively over 19 on Tuesday.

A second daily confirming close above this 19 “square” opens the door to the next decrement of 90 degrees higher targeting 23 (green).

Summary. On July 16 I said, “Silver is in a runaway move. Only decisive breakage below 18.50 will shift the focus to a correction. Clearing and sustaining 20 opens the door to a vertical ascent and possible Climax Run in the short term.” The Silver Streak

I wanted to watch its behavior at 19-20 to load the boat.

However, silver’s Breakaway Gap has started a lockout-rally… much like TSLA when it gapped over 1000.

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