Silver Follows Through After Breakout Alert

In his Metals Update on Thursday July 21, Avi Gilburt wrote: "I think it's time to go on high alert for a potential break out in silver.”

Avi explained how silver looked to have completed a 5-wave decline of the large wave [2] pullback and was setting up a potential i-ii, 1-2 off the recent lows.

"We still need a corrective micro wave 2 pullback," he wrote, "and if we then break out over the high of wave i, we may be catapulting in wave iii of wave [I].”

Trading at $18.78 at the time, silver went on to get the micro wave 2 pullback, and then this past Wednesday broke out over the high of wave i.

At that point, with silver at $19.02 late afternoon on Wednesday, Avi alerted members that he was looking for an additional .75-1.00 move, with a minimum target of $19.80, which silver slightly exceeded on Thursday before closing at $20.32 on Friday.

EWT analyst Victor Nguyen also has been tracking silver successfully.  In his Index Quant Signals service on July 7, Victor told members that his system spotted a major buy signal forming on SI (Sept) futures at around $18.  On July 14 SI hit a low of $18.01, and Victor sent out an immediate trade signals alert for a long entry at $18.04. 

Friday's closing price was $20.32, up 12.6% so far on the open trade.