Weekly Silver Chart Wedge Formation to first finish, then UP | 30 April 2021
Silver Price Forecast relative to Long Term Monthly - Medium Term Weekly - Short Term Daily - and Hourly (not shown) data.
SILVER FORECAST
(Previous week in brackets)
| Silver/USD | Monthly | Weekly | Daily | |||
|---|---|---|---|---|---|---|
| 25.88 (25.95) | ||||||
| Trend | ↓ (↓) | ↑ (↑) | ↓ (↓) | |||
| % Risk Weight |
76 (76) | 30 (26) | 75 (78) | |||
| PM Distribution Total allocation 30% (35%) |
Pt:35% | Ag:30% | Au:35% | |||
Silver/USD live price
Silver comment
30 April 2021 close: The full correction of Silver that developed since the July 2020 still needs to be confirmed. With Daily risk at a higher risk percentage and turning down, the developing wedge formation may take another few weeks or even months, yet our balanced balanced metals portfolio is considered low risk protection with potential very strong benefits from that protection. Strong Hold.
23 April 2021 close: Even though Daily and Monthly risk weight are in mild down trends in lower top quartile risk weight zone, the medium term has made a lower bottom based on higher price. That's an inverse bullish indication and almost always proves right. It makes sense if numbers that turn down sharper than price ought to develop a stronger price pattern.
Silver remains a near one third of the portfolio. Price may range trade a bit longer still against Gold but Silver is a solid 'hold'.
Quarterly Silver/USD chart since 1971
Silver risk analysis
30 April 2021: The multi year quarterly cannot really change its direction without a very strong down quarter. This risk chart is in full support of a much stronger medium and long term silver price rally.
23 April 2021: Little price change and no visible change on the Quarterly Silver risk chart. Trend still strongly up so no change to our longer term objectives of 37.00 initially and beyond.
GOLD/SILVER Ratio Price Risk Analysis
(Previous week in brackets)
| GOLD/SILVER Ratio | Monthly | Weekly | Daily | |||
|---|---|---|---|---|---|---|
| 68.07 (68.16) | ||||||
| Trend | ↑ (↑) | ↓ (↓) | ↑ (↓) | |||
| % Risk Weight |
7 (7) | 49 (49) | 20 (26) | |||
| PM Distribution Total allocation 30% (35%) |
Pt:35% | Ag:30% | Au:35% | |||
Gold/Silver Ratio live price
Gold Silver ratio analysis
30 April 2021 close: The technical picture hasn't changed and risk weight across time scales has remained very much static. The consolidation in the present range is likely to continue until we see more of a divergence definition.
No Change.
23 April 2021 close: The Gold/Silver ratio is likely to see a bit of pressure but the entire space does breath more Monthly risk consolidation before silver really takes off again. This week saw a sharp advance of Silver which was short lived and just knocking 10 cents of the ratio at this week's close. We'd like to see that consilidation before risking a possibly slightly higher exposure to silver. The present mix of Gold/Silver/Platinum feels pretty low risk.
The quarterly risk chart below is hardly changed from last week and follows the general pattern of not being finished yet long term but a further pause within a 15% price range.
Quarterly Gold/Silver ratio chart since 1971
PLATINUM/SILVER Ratio Price Risk Analysis
(Previous week in brackets)
| PLATINUM/SILVER Ratio | Monthly | Weekly | Daily | |||
|---|---|---|---|---|---|---|
| 46.30 (47.10) | ||||||
| Trend | ↑ (↑) | ↓ (↓) | ↓ (↑) | |||
| % Risk Weight |
67 (62) | 64 (71) | 23 (31) | |||
| PM Distribution Total allocation 30% (35%) |
Pt:35% | Ag:30% | Au:35% | |||
Platinum/Silver Daily 30 April
30 April 2021 The Daily risk weight chart shows a rapid risk decline without much price change. This is a bullish picture as already indicated last week. The short term indicators give no immediate clue except that the overall analysis stiull calls for a much firmer Platinum/Silver ratio.
23 April 2021 Platinum looks short bullish versus Silver, again.
Platinum/Silver Weekly 30 April
30 April Weekly is in a medium risk range down trend and could push the ratio down further, but this mild down trend with little price change leans towards good medium term market support for Platinum vs Silver. Patient Hold.
23 April Medium term Platinum/Silver turned back up but not decisive. Expect a platinum rally from short term risk to confirm the medium term trend as not finished. The higher risk risk percentage could mean Platinum follows silver but we should expect much pressure like we saw 2 weeks ago into last week.
Platinum/Silver (Interim) Monthly 30 April
30 April A price forecast based on this monthly risk weight chart alone is impossible to make. This Month end chart is still showing a strong uptrend which can also pause for a few months. This print typically leads to an advance taking the ratio much higher longer term. Patient Hold.
23 April Interim Monthly still looks strong despite a slightly lower price print on the monthly chart having closed in March on a 6 months high around 50. Trend is up and a long way to go towards equilibrium with an initial target of 60.
Platinum/Silver (Interim) Quarterly 30 April
30 April What this chart look bullish for the Platinum/Silver ratio is the fact that the 2016-2019 consolidation caused an unusually sharp bullish divergence. Risk weight versus price performance is hard to predict but we may expect a move towards that higher 60-70 range equilibrium to be reached in 2022 or sooner if shorter term time frames were to build a fresh short term bullish divergence scenario.
23 April The Quarterly still confirms our long term view that Platinum is only at the start of a major 18 year trend reversal.