Loading ...The current silver bottoming process is very similar to that of 2001 to 2003. It took a while for silver to establish a base which set up the bull rally in the following years to 2011.
The current bottoming has been longer, but it fits the profile of the early 2000 bottom in many respects. Below, is a chart which show the similarity:
I have marked the two patterns (1 to 5) to show how they are similar. The current bottoming is coming to an end, and now a breakout of the top line of the triangle will confirm the validity of the comparison.
There also other fundamental similarities compared to the same period. The behaviour of the US Dollar index is an important one of them. Below is a comparison of Silver and the US Dollar index chart: