Silver shows a giant cup with handle formation

 

Silver - Giant Cup With Handle

I have been tracking this giant cup with handle formation for years now. There is still a long way to this formation is triggered, which it will be if silver breaks above resistance at USD 48. Such a break will call for a continuation higher to around USD 100 pr. ounce silver. 

If, however you look closely on the smaller formation build from ultimo 2012 and till today you will see a smaller cup with handle formation, that just has been triggered with the break above resistance at USD 28 and this formation calls for a rally higher to test the long term resistance at USD 48. 

I expect that silver after some sideways consolidation between USD 28-30 will start rallying higher towards USD 35 as the next resistance and ultimately higher to test the long-term resistance at 48.