from Silver Doctors:

SD Friday Wrap: It looks like silver’s run is only just getting started. Here are not one, not two, but several reasons why…

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Editor’s Note: These charts were set-up before 1:00 p.m., and they do not include price action after that time.

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Silver put in a nice, strong move this week.

Not many people were looking for silver to rally, but I was, and I imagine most people now think the rally has run its course.

I don’t think so, and believe me, if the cartel could have kept silver from making a run this week, they would have, but there are just too many factors right now that all point to higher silver prices.

For example, death is coming to the US Dollar Index:

That’s a nasty plunge today, and we’re about to see a death cross painted on the DXY’s daily chart, where the 50-day moving average falls below the 200-day moving average.

That’s bearish for the dollar.

Where have all the dollar bulls gone, anyway?

Hiding?

Because there is no denying the dollar is in a downtrend, and it looks like the bottom is about to fall out.

Yikes!

As the dollar index declines, especially if we get another drop or plunge here, this should help keep that bid under gold & silver, which means that even though the technicals could quickly become “extremely overbought”, gold & silver could continue with another leg-higher before any significant pullback.

Is there anything else that could be a reason for gold & silver to continue their charge higher?

There is!

The stock market:

The stock market has hit record high after record high, and there’s absolute euphoria right now, and yet silver is showing strength among all of this stock market elation.

Said differently, silver is rising along with the stock market, but the stock market is likely to have a scary drop at some point in the not too distant future, which should put a bid under silver, and, even if the stock market euphoria becomes more extreme with a continued market melt-up, sans the drop, it stands to reason that if we don’t get the drop because the market riggers don’t let it happen, then, at the very least, smart money will be looking to hedge those stock market gains by taking some profit and investing in silver before those stock market gains turn into stock market losses.

All things considered, I am expecting the experts and analysts to be talking about how gold & silver are overheated right now, and that the pullback is imminent, but just like those same experts and analysts missed this week’s rally, they’re likely to miss the next leg higher, in my opinion.

If I’m correct and we don’t get a pullback here, then silver likely makes a B-line for $20:

A continuance of this week’s move along with another leg higher would, at that point, likely be followed by the pullback, but picture this if you will – we’d be staring at a cup-n-handle pattern painted on the chart!

Granted, it would be one ugly cup, like those clay cups kids make in junior high school art class, but a cup-n-handle pattern no less, and that would further add fuel to silver’s fire.

In my opinion, the short-term outlook for silver is still bullish.

First things first, however, and one of the first things is the need to kiss 80 on the gold-to-silver ratio goodbye:

That could happen next week, but if it doesn’t, it’s unlikely to drag on past January of 2020.

Gold has reclaimed $1500:

Gold is looking strong here, and that’s also a decisive break-out move this week!

Platinum is looking really nice in the short-term:

Just this week we’ve put in a second higher-low and a third-higher high.

Bullish!

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