Currency and silver calculations continue to indicate Commercial Futures Traders are positioned to take advantage of a decline in silver. As a minimum, silver is expected to reach 19.42 by November 2021. In addition to this, there is a 60% chance silver will have a repeat performance of the May-November 2008 decline based on Dow key events discussed in the May 12, 2021 post. This is also based on the large number of Non-Commercial Futures traders long silver positions in place relative to its current value against the Dollar, British Pound, Swiss Franc, etc. If these positions stay in place or increase, a decline to 8.32 would be expected by November 2021.
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