Silver Ready To Go Parabolic In ZAR?
Often a rising wedge type of pattern appears just before price goes parabolic. Yes, not all rising wedges are bearish.
This was the case before the late 70s silver rally, with the wedge highlighted in the chart (red). We have a similar setup on a much larger scale (blue).
A breakout at the top blue line could see price going parabolic. Even the current price for silver in South African Rand (ZAR) is not realistic since one would not likely find any silver at this price.
This provides further support to price going much higher in the near future.
For more on this chart and this kind of fractal analysis, you are welcome to subscribe to my premium service. I have also recently completed a Silver Fractal Analysis as well as a Gold Mining Fractal Analysis Report.
Warm regards,
Hubert Moolman
