from Silver Doctors:

SD Friday Wrap: The fog is clearing, and now we can see what silver’s been up to, and more importantly, preparing for…

This week had a little bit of it all when it came to the negative outlook for silver.

Let’s review.

The anti-gold propaganda came as expected:

Here’s a Bloomberg anti-gold headline for the HFT algos:

You see, if the debt-based fiat currency Japanese yen is more attractive than gold, well now, it’s reallymore attractive than silver.

Yet silver shrugged it off.

The bearish sentiment is gaining traction.

Gold & silver analysts and experts are preparing for a move lower in silver, with the latest posted right here on Silver Doctors:

And that’s just one of plenty examples.

Yet silver shrugged it off.

America continues to have a booming economy.

Today included, the White House is pumping the economy and the US dollar again:

BREAKING: Kudlow tells CNBC: ‘We have ruled out any currency intervention’ pic.twitter.com/IO4hj3FuiA

— CNBC Now (@CNBCnow) July 26, 2019

Kudlow had nothing but praise for the US economy, and, more importantly, the strong US dollar.

Yet silver shrugged it off.

So what is going on with silver?

It is surprisingly simple: Silver is consolidating over time, and I think that time is almost over.

And I get it: It’s a paper sham on the COMEX, and they can move price wherever they want to.

They can, however, only as long as the physical silver supplies flow like the wine in France or like the Diet Coca-Cola in McDonalds.

However, I think the flow is losing pressure, and I think it’s losing pressure pretty quickly.

It looks to me like silver is building a base right here around $16.50.

A launch pad, if I may.

Because I think silver has much, much more work to do to the upside.

Here’s a look at silver’s base-building:

Notice how healthy that golden cross is, and notice just how obvious the break-out on the daily chart has become.

Can anybody really argue the bear case for silver right now, especially if you want to call silver’s price action a bull-pennant in the making?

Maybe in the near-term, with a test of support at $16 coming up, but I think any test would be short-term, and I don’t think anybody can argue the bear case for silver when arguing about the long-term.

Read More @ SilverDoctors.com