Silver prices are surging while production is flat
- silver production peaked in 2016... silver was $14
- now silver is at $74 and production is down 10%
Higher prices don't necessarily translate into higher production... especially not for silver.
The reason is simple:
- only 30% of silver production comes from silver mines
- the rest comes from silver being a byproduct
Supply is constrained while demand is rising.
Delete these from your chart immediately:
1. RSI
2. MACD
3. Bollinger Bands
4. Moving averages
5. Fibonacci retracements
6. Stochastic oscillators
7. Volume profile
8. VWAP
9. Elliott Wave Theory
10. Any indicator you found in a retail trading book