Investing

Believe It Or Not: Silver Is Going To $100/ozt – Here’s Why

Silver appears to be very close to an even bigger move higher…that will likely take prices to all-time highs.

Below, is a long-term Silver chart:

Note that price has broken abovNote in the chart above that price:

  • has broken above the the 50-month moving average, and consolidated above the line…
  • As long as prices stay above that 50-month moving average, the bull is very much alive, and this could still be so for a very long time to come.
  • It will be nothing special for it to reach a minimum target well above $100.
  • Furthermore, there is a type of cup-and-handle pattern which has a log target that suggests prices could possibly hit $700. Even hitting this seemingly high level, would be nothing out of the ordinary given the type of setup, when compared to how bull markets commonly unfold.

The big question, however, is how fast can it reach that target?

Nevertheless, those who now take the enormous stock market profits by selling out, and buying silver, will be the big winners, especially if they can ride it up close to the target of the cup-and-handle pattern.

Editor’s Note:  The above excerpts from the original article by Hubert Moolman have been edited ([ ]) and abridged (…) for the sake of clarity and brevity.  The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.  Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.

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Source: munknee.com

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