On April 17, 2024, a pull back within silver’s ascending triangle was expected. Silver did pull back into May and then continued to move higher. This move is consistent with the 1971 – 1973 silver structure shown below. As silver started to move higher in 1973, the S&P hit its peak on January 11, 1973 and started a decline the following day. The current 2024 structures are expected to continue on a path that is similar to the 1973 structures.
Stock charts courtesy of StockCharts.com.
1971 – 1973
2021 – 2024
