kingworldnews.com
With major markets all over the globe on the move, today James Turk spoke with King World News about silver, which he called “one of the most undervalued assets on the planet.” Turk also noted that the price of silver may finally be ready to skyrocket and included two remarkable charts.
Silver Breaking Out To The Upside
James Turk: “We
have been waiting for five years for silver to reverse course and turn
higher, Eric, and now it has finally happened. Silver is breaking out to
the upside.
The
strength we have seen so far this year is remarkable, and the power
silver has shown over the last few weeks is icing on the cake.
Before
we get into the potential for silver, I would like to first look at the
following chart. It no doubt will be familiar to KWN readers because
you and I discussed it so many times over the years while watching this
chart pattern develop.
What
we can see in this weekly silver chart are two distinct patterns drawn
in green. Both of these patterns delineate a base, each of which shows
the distribution by weak hands resulting in declining prices that is
eventually met with accumulation by strong hands and rising prices.
The
first long-term pattern is a rounding bottom called a “cup.” It shows
distribution from the 1980 peak to the early 1990s, followed thereafter
by a decade trading range and then a decade of massive accumulation
resulting in higher prices. In other words, over this period silver
moved from overvaluation and selling by weak hands, to undervaluation
and buying by strong hands – until April 2011 when it reached the
previous record high of $50 set in January 1980.
A Silver Curveball
Silver then threw us a curveball. Instead of breaking out and making a
new record high back in 2011, the silver price began dropping.
Because
there are many fundamental reasons to remain long-term bullish on
silver, I have been expecting this chart to form a new and smaller
rounding bottom than the 1980-2011 pattern. Importantly, the odds of
that happening have significantly improved because silver has broken
above its 5-year downtrend (red line on the above chart).
Silver
is now evolving into a pattern called a “cup with a handle,” which
potentially is very bullish. I say “potentially” because that “handle”
is still being formed. So more of the story has yet to be told. The
pattern will only be complete when silver moves above the top of the cup
(the green horizontal line), which is its record high of $50.
Perhaps
the chart pattern will fail, or perhaps the pattern will complete in
the months ahead with silver moving higher to completely form the
handle, which is what I expect. To show how quickly it could happen so
that we stay focused on silver’s potential here, I’ve drawn two
identical ovals on the chart because sometimes history does repeat.
From
$14.82 in February 2010, the silver price had nearly tripled just 14
months later. But I would like to draw attention to when the big move
actually started several months later.
The Price Of Silver May Finally Be Set To Skyrocket!
You and I both remember this event because we discussed it many times
back then how silver went sideways in the $17 – $18 range for weeks on
end. Eventually at the end of August 2010, silver dipped below $18 for
the last time and never looked back. Only eight months later, it was
nearly $50.
I
have drawn a second oval matching the first one. I think silver’s
advance from here could match the speed and distance of its 2010-2011
advance, which would put silver hurdling over $50 by next year, if not
this year. If that happens, then silver will resume its long-term bull
market by bettering its January 1980 peak, which most commodities have
already done.
Silver – One Of The Most Undervalued Assets On The Planet
This means that silver has some catching up to do, which is another way
of saying that it is undervalued compared to other commodities. In my
view, silver is one of the most undervalued assets on the planet.
In
summary, the outlook for silver is spectacular, and my recommendation
for both precious metals remains unchanged.
Accumulate gold, and if you
are inclined to accept the greater volatility, then accumulate silver as
well on a cost-averaging program with monthly purchases, or quarterly
if it fits your budget. By doing so you are saving sound money, which is
a crucially important strategy to help protect your wealth.”
12 則留言:
Lisa姐,今日打電話去上商九龍總行,全線金楓葉/金袋鼠一安士無貨,各位金銀甲睇路呀,有錢都未必買到。恆生無哂2016金袋鼠,只買到以前年份。各位金銀甲睇路呀,有錢都未必買到。
愈來愈多報紙報道, 而愈多人開始買實金實銀, 想買就要早買, 遲下可能會貴, 溢價也會上升 !
金價要上1550啦
金幣無..未買金粒或金條
金粒或金條都唔一定有貨, 睇你好唔好彩 !
我以前都試過在銀行乜都買唔到, 最後走去買金飾 !
轉左買五兩油條,黃沙。都係金幣靚仔。
恆生仲有大把金袋鼠,金油條.
大把貨,最怕你冇錢
此乃最新現況?
可能佢係恆生金庫返工,所以咁清楚。
今日先係恆生總行入貨,連鷹揚 楓葉 富仔 1安同半安都有貨.
排隊個陣都見好多人放貨.
有人買也有人賣, 利恒生 !
謝 David LEE 報料 :)
感謝David分享!
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