Six weeks ago, we looked at a weekly line chart of Silver/Euro and noted the possible Bull Flag set up with potential to propel price from its large descending channel and toward all time highs. In the short time since, Silver/Euro has rallied greater than 10% and now sits right on top of that upper rail resistance. If positive momentum continues, and we can confirm a weekly closing breakout this week or next, it will be historically significant and an impulse rally may follow.
Silver/Euro has already broken out on the monthly chart. Breakouts on higher time frames are even more significant, and this chart is an important piece of evidence that supports all time high prices ahead.
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