Silver has moved above its 200-day moving average which is a signal for silver prices to challenge the $50 area, overcome it and then traverse ‘blue sky country’ to target the upper trendline shown in the chart shown below.
So reports Peter Cooper (arabianmoney.net) in edited excerpts from his original article* entitled Silver price break out confirms 14-year bull market still intact and heading to very much higher prices.
[The following is presented by Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com and www.munKNEE.com and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.]
Cooper goes on to say in further edited excerpts:
Our favorite chartist Clive Maund says: ‘After a long corrective phase lasting two to three years, silver is at last ready to begin a major new uptrend… There is a strong resistance to confront at the $26 level, but once it is taken out it should then continue on to challenge its highs in the $50 area, overcome them and then traverse ‘blue sky country’ to target the upper trendline shown’:
The exact timing of such moves is impossible but this trend will definitely be a momentum trade for many investors. Indeed, it should be impossible to go far wrong with anything to do with silver.
Silver is just beginning a new uptrend so now is the time to load up on these assets. Don’t hang around for too long, though, because you are unlikely to be alone in spotting this trend.
[Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.]
*http://www.arabianmoney.net/gold-silver/2014/02/17/silver-price-break-out-confirms-14-year-bull-market-still-intact-and-heading-to-very-much-higher-prices/ (Copyright Peter Cooper 2012; Sign Up for free Newsletter)
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