'Silver to Test $100' --Citigroup Technical Analysis

Photo: NW Territorial Mint

Reminds me of a 2007 Goldman Sachs hatchet piece, from its vaunted TA department citing waning momentum and a rec to 'Short Gold'.  At the time my response was to laugh and note that if gold declines, it certainly will not be due to any noticeable waning of momo.  This was due to elementary TA of a monthly chart.  Nice call Goldman.

Now, I wonder what gold and silver bugs make of Citigroup's assertion that silver is going to $100.  You can't call an entity Satanic on the one hand and then cherry pick their head spinning upside target on the other, can you?

Silver May Rebound to Test $100 Level, Citigroup Says: Technical Analysis

I love how the financial MSM puts 'Technical Analysis' out there as if any of these chart jockey's really knows how to look to the heavens and divine the coming truths.  Ooooohhhh, technical analysis said it is going to happen. 

Quite aside, some smart professionals in the NFTRH subscriber base are convinced $100 silver (and beyond) is coming.  I myself think it is likely at some point.  But that Citigroup hump is an intermediate term negative if it is anything (IMO).

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