Technical Analysis for Silver

Silver price has been reaching at US$34++ since the highest record in 1980s at US$50. The resistance level is at US$35, once it breaks the level, Silver price will likely rise to test the level at US$40. Based on the 5 year Silver chart, the 200 MA level is at US$23 which indicate that there requires a major correction of 33% in order to reverse the overall trend of Silver, which is unlikely to happen due to the current high inflation & US Fed printing money factors.

So what are the potential upside for Silver price? Based on my personal opinion, there are few factors:
1) If factoring in inflation, current Silver price should be revised to US$130.
2) Based on historical average Gold / Silver ratio of 30, current Gold price at US$1450, which means Silver price should be rallied up US$48.
3) Gold price is historical high at all time, however Silver price is still considered as a laggard behind Gold.

As Dennis mentioned, "It is NOT silver prices going up, it's each US$ is likely to worth a whole lot less with so much printing of money....and causing Inflation".