munKNEE.com Your Key to Making Money
…We have been following silver’s performance closely and anticipating a strong
move in silver price for a while now. As we write this article, the silver price is still trading within the range on its 35 year silver chart, and we believe the resolution of the long term triangle pattern will be resolved very soon. Summer 2018 will set the tone for silver and gold price for the rest of 2018 and possibly early 2019. Here’s why.
The original article has been edited here for length (…) and clarity ([ ]). For the latest – and most informative – financial articles sign up (in the top right corner) for your FREE tri-weekly Market Intelligence Report newsletter (see sample here)
Silver price about to breakout from a 10 year long triangle pattern
The silver price, as shown below, is still moving within the triangle pattern we have identified and shared with our readers. The descending trend line has been tested extensively since 2016 and the ascending trend line has been back tested successfully more that 4 times.
Although it’s hard to forecast the next move in silver, it looks like something is going to give in the next weeks. The chart below and the frequent trend lines testing leads us to believe the ascending trend line is likely to hold and the descending trend line is likely to give, which means an imminent breakout to the upside for silver price.
This is how we are reading this important silver chart but as always, there is always an invalidation point that investors need to watch closely. For silver, we believe this point is the $15 level. The chart below shows the huge importance the $15 has for silver price. This level also represents a secular support which confirms our bullish outlook for silver in 2018.
Related Articles From the munKNEE Vault:
1. Silver Price Is A Coiled Spring – Continue Accumulating More Silver Investments
Silver appears to be in the very late stages of its Head-and-Shoulders bottom and, with the price still not far off the Right Shoulder lows, we are at a very good point to continue accumulating silver investments.
2. Silver Prices: How High Will They Go? $100? $300? $500?
Silver prices have risen exponentially for the past 90 years as the dollar has been consistently devalued. Expect continued silver price rises.
3. Silver Trend Is Inevitable In Its Outcome – Here’s Why
Supply and demand trends are clearly poised to continue tightening the silver market and when the next crisis hits the silver price will be significantly impacted by this trend. It may not happen this year, but the 20,000-foot view of this market says a crunch is on the way. It’s supply/demand 101.
4. Frustrated By the Comatose Silver Price? Don’t Be. Here’s Why
Frustrated by the comatose silver price? Tired of it going nowhere and being held down? Well, history has a message for you: This trading behavior is normal. Furthermore, similar scenarios from the past say the next price explosion is on the way.
5. Silver Could Hit $150 A Troy Ounce – Here’s Why
A collapse of the U.S. dollar is inevitable. The U.S. Dollar Index has been bouncing off of four-year lows for the past several weeks but this cannot last much longer with a global trade war and U.S. equity correction looming….The U.S. dollar and fiat currencies are in trouble, hinting that gold and silver prices could again go screaming higher…[as] the two still generally trade inverse to each other and, while gold is perhaps the safest way to hedge against a falling dollar, the most profitable option is silver.
6. In Coming Upsurge Silver Will Move Up Almost 4x As Fast As Gold! Here’s Why
The moves in gold and silver will be explosive. The time to own physical gold and silver is today and not when they move to new highs. Both metals are at inflation adjusted historical lows and the downside risk is minimal. Also, they probably are the most undervalued of all assets currently.
7. A Breakout In the Silver-Gold Ratio Could Spring Silver Much Higher & Carry Gold With It
A breakout here would “spring” silver much higher, and likely carry gold with it. Precious metals investors need to be watching this ratio here!
9. Are You A Silver Bug? Take This 10-question Quiz To Find Out
If you’re a silver believer like us, check out our 10-question quiz to see if you can call yourself a silver bug.
10. Silver: Diversify Your Holdings & Juice Your Returns – Here’s How
50 ways to diversify your silver holdings. Now you can make sure you have the right form of silver, for the right purpose, for the right time, for a diversified hard-asset portfolio.
11. Silver Is In A Massive Bull Market – Here’s Why
It’s Economics 101. Price works to balance supply and demand. Limited supply causes higher prices; higher prices help curb demand…[and] that equation is playing out right now in the silver market. Mined silver supplies have been drying up over the past few years, while silver prices have climbed 20% in the same time frame…
Silver has often rebounded nearly 100% within 12-15 months after bad and long bear markets. History says Silver is ripe for a similar move over the next 12 to 18 months.
13. Silver is Now Even More Precious Than Gold! Do You Own Any?
Silver is now rarer than gold and will be for all of eternity. From this point forth we work from current silver production alone and, from this point forth, demand will outstrip production without exception. Can you imagine what that means for the future price of this, indeed, precious metal? Forget about the popular expression: ‘Got gold?’ The much more important – and potentially more profitable – question to ask these days is, ‘Got silver?’
14. Silver Is THE Antidote to Bubble Craziness – Here’s Why
Silver in early 2018 is inexpensive compared to M3, National Debt, government expenditures, the Dow and gold.