This comment is by InvestingHaven analysts. Analysts examining the graphs of both investment instruments make the following determination:
“Tesla price chart looked ‘complicated’ between 2014 and 2019. The price fluctuated between $12 and $25 resistance and support. Tesla spent 9 months under the 200-day moving average in 2019. Then it went up without looking back. 2020 -The company’s shares increased 10 times in the period of 21. Now let’s take a look at silver prices…
“Explode like a silver Tesla”
According to the news in My Economy, silver also spent 9 months below its 200-day moving average. It has been making a complex appearance since the summer of 2020. It consolidated between $28 and $21 for about 24 months. After falling below $21 for 6 months, there is a consolidation above $21 again.
Silver’s 2022 lows were a test of 2018/2019 highs. So, in our opinion, it is the same as Tesla’s appearance in 2019. In other words, the situation just before Tesla started a rapid rise is now experienced in silver. In fact, silver looks stronger for the uptrend.” The team that wrote the analysis predicts that the price of the gray metal will rise to $34 in 2023.
In 2023, the rise in platinum comes in waves
It is predicted that the rise in platinum prices, which has risen by more than $200 an ounce in the last two months, could turn into a rally in 2023. Expected to receive both speculative investment and industrial support in the new year, platinum may experience a strong rise according to the Elliot wave model used to analyze the technical movements of prices.
The Platinum Monthly Elliott Wave chart shows that the metal spends most of its time correcting in 2022. According to the analysis on ElliottWave-Forecast.com, the correction of the current wave in platinum was completed at $ 796.8. Stronger rallies are expected if prices break above the previous high of $1348.2 from here.