Some things are immutable. The idea that when a force is applied to something, that something in turn applies an equal force but in the opposite direction, being one of them.

I don’t need Elliott wave to know that silver prices ascended from March of 1993 to April 2011. From that point a bear market ensued through the bottom of June 2013. The magnitude of the bear market retracement was exactly 68%; structurally a very well formed, multi-year Gartley.  Everything since reflects silver’s effort to blast off in another bull market. The initial wave took the market to the August 2013 highs. I submit that overall, all the price action in silver since last August has been correction within a bull market, one essentially trying to get off the ground. The frequency with which the supply forces have been pushing down on the support level in this market, I believe is highly correlated with a reactionary phase, soon to kick in. Twice in December 2013, once in January 2014, twice in May 2014, and most recently on June 5th 2014, has the line of support felt the pressure of supply. Thus far it has been resilient. Precisely, recent silver returns, seem to evidence the reactionary force that is the primary thesis for supporting my bullish forecast.

Tune into the webinar I will give on Thursday June 19, 2014 at 1:00 Pacific time. During this program I will detail the technical, fundamental, and inter-market forces at play,specific to my silver forecast.

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