Watch Out If Silver Breaks Through This Threshold Next Week – SRS Rocco Report
TND Guest Contributor: Steve St. Angelo
The huge Silver Rally this week took a lot of precious metals investors by surprise. The silver price surged 15% since the BREXIT vote results last Friday. Silver began trading at $17.25 last Friday and closed at $19.76 today. Gold also performed very well by increasing 7%.
As we can see from the Kitco table above, silver had its best day in several years by jumping $1.06 as of the close this Friday.
Watch Out If Silver Breaks This Threshold Line
What is interesting about this present silver rally is shown the the chart below:
From 1996 to 2004, the price of silver traded below its 200 MA (RED LINE). Once it jumped above it in 2004, it never fell below it except for the brief time it bounced off it at the end of 2015. While I don’t pay a lot of attention to Technical Analysis, a lot of traders do.
What is important to notice in the chart is the 50 MA (BLUE LINE). Once the silver price fell below the 50 MA at the beginning of 2013, it continued to decline over the next three years. However, as the price of gold and silver started to rise in the beginning of 2016 and surge even higher after the BREXIT vote last week, silver is only $0.75 away from breaking through the 50 MA (BLUE LINE).
Once silver breaks above this 50 MA Threshold, I believe we are going to see a great deal more hedge fund and traders move into the silver market. We may see the banks try and hold silver from crossing this trend-line, but if silver does close above $20.50 next week and continue higher… this could spell real trouble for the bullion banks who hold a great deal of silver short contracts.
Precious metal investors who were hoping for lower gold and silver prices to purchase more metal were caught by surprise as the silver jumped 15% in a week. Those who have NOT YET BOUGHT METAL, you may be paying a lot more of the price of silver really starts to take off over the next several weeks. I heard that several precious metals dealers said, “They had never seen anything like the kind of sales they were experiencing today.”
I will be putting out a very interesting article on the silver market next week that provides data showing how undervalued silver is compared to gold.
# # # #
Independent researcher Steve St. Angelo (SRSrocco) started to invest in precious metals in 2002. Later on in 2008, he began researching areas of the gold and silver market that, curiously, the majority of the precious metal analyst community have left unexplored. These areas include how energy and the falling EROI – Energy Returned On Invested – stand to impact the mining industry, precious metals, paper assets, and the overall economy.
Steve considers studying the impacts of EROI one of the most important aspects of his energy research. For the past several years, he has written scholarly articles in some of the top precious metals and financial websites.
You can find many of Steve’s articles on noteworthy sites, such as GoldSeek-SilverSeek, Market Oracle, Financial Sense, GoldSilver.com, SilverDoctors, TheNewsDoctors, TFMetals Report, Outsiderclub, SGTreport, BrotherJohnF, Hartgeld, Der-klare-blick, PeakProsperity, SilverStrategies, DollarCollapse, FurtureMoneyTrends, Sharpspixley, FinancialSurvivalNetwork, Pmbull, Deviantinvestor, PmBug, Wealthwire, and ZeroHedge.
Visit the SRSRocco Report website: SRSRoccoReport.com
Source: http://thenewsdoctors.com/watch-out-if-silver-breaks-through-this-threshold-next-week-srs-rocco-report/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).
Gold, silver, and lead. Lots, and lots of lead.