If you were swept up by the frenzy in the price of silver last year only to be very disappointing, then this chart below may give you something to be hopeful about.
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| 5 year silver price in Dollars |
The blue diagonal line is struck along the lowest part of the silver price from 2009 to August 2012.
You'll notice the parabolic climb in the silver price in 2010 only for the price to come crashing down from it's $50/oz high.
I'm no stock market trader, and I never want to be, but from what little I know is right now I'm looking at two very encouraging signs for a rise in the price of silver. An underlying support from an upward trend since 2009 and the horizontal line that strikes through several lower troughs. These are lines of support.
What I'm saying is. Now is a good time to be buying silver.
I also wonder. As silver is commodity, does it mean all the other commodities will rise significantly soon. Who knows, reading charts seems a little like reading tea leaves.
