Silver Pointing To $39/oz! Here's What You Need To Know | Chris Vermeulen
Liberty and Finance Jul 27, 2026
Summary
Technical analyst Chris Vermeulen argues silver's Fibonacci extensions (chart targets drawn from an earlier drop and bounce) point toward $39-40 per ounce.
Gold already finished its first drop; the guest sees a 100% measured move (the initial decline repeating) targeting $3,500-$3,600.
A topping stock market, a strengthening US dollar, and rising oil from the Strait of Hormuz war could trigger the metals washout.
Both metals are in a bear market on the guest's measures, with price below a falling 150-day moving average, so he holds cash.
He expects the eventual panic selling to create one of the best long-term buying opportunities for precious metals in years.
Elijah K. Johnson's takeaways
- Top takeaway As host of the July 27, 2026 interview, he notes that metals have kept breaking down since Vermeulen's last appearance, with silver around $55, and steers the discussion toward the $40 Fibonacci target versus the psychologically important $50 level.
- He offers his own concern that the reigniting Iran war and rising oil point to more inflation alongside a slowing economy, which he calls the worst kind of environment.
Chris Vermeulen's takeaways
- Top takeaway Vermeulen's top call as of July 27, 2026 is that silver's second leg down is still ahead, with his Fibonacci extensions pointing to about $39.40/oz — the roughly $40 target he has held since his last appearance on the show.
- For gold, he says the first measured drop already completed and, with price at the 61.8% level, the 100% measured move near $3,500-$3,600 comes next — a breakdown few expect, which he believes could spark panic selling.
- He argues gold and silver are already in a bear market: the 150-day moving average is sloping down with price below it and both metals have corrected well over 20%, so the talked-up double bottom is likely just a technical bounce in a bear flag.
- He sees the washout catalysts lining up: the Nasdaq/QQQ topping as the AI bubble fizzles, a US dollar breakout that looks like a new bull market, and the Strait of Hormuz war driving oil toward about $112, feeding inflation and potentially higher interest rates.
- Long term he remains extremely bullish, seeing gold eventually working toward $8,000-$12,000 and the washout as the entry point, but for now he is heavily in cash, still holds some equities and utilities while their trends are up, and will buy inverse ETFs only once his longer-term systems turn down.