For those not familiar with technical analysis, the cup-with-handle formation is about the most basic, time-proven, bullish consolidation pattern known. I won't explain here why the setup is so powerful, but if you want to learn more, I encourage you to watch this 6-minute tutorial video from Investors Business Daily.
Based on the chart above, I would put a minimum price target for silver at $90 to occur sometime in the next few years. (Remember, those y-axis gridlines representing price are plotted in a log scale so each line represents double the price of the previous line.) This analysis jives perfectly with my post from yesterday regarding the Gold-Silver Ratio and what it's suggesting for the future of silver.
Do you agree? Disagree? Post a comment with your thoughts - I'd love to hear from you.