Read the story here. Advertise at Before It's News here.
Profile image
By Streetwise Reports (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

Silver Calling the Precious Metals Sector Higher

% of readers think this story is Fact. Add your two cents.

Source: Clive Maund for Streetwise Reports   04/22/2021

Technical analyst Clive Maund charts silver and explains why he believes it is beginning a major new uptrend and what that implies for other precious metals.

Gold and silver improved last week and we saw a tentative breakout by precious metals stocks from the downtrend they have been stuck in since last August. The purpose of this update is to point out that even though the sector may back off short-term from the resistance it has arrived at, the picture is brightening, and silver in particular is showing signs that it is beginning a major new uptrend, which, of course, implies that gold and precious metals will too, since silver is most unlikely to go up in isolation.

There are two key points to note on the 1-year silver chart. The first is the now tight bunching of price and moving averages, with the averages in bullish alignment—this is the sort of set up that often triggers a sizeable upleg. Thus it is most encouraging to see silver’s Accumulation line forging ahead to new highs, making it all the more likely that it will continue to advance.

On the 3-month chart we can see that silver could tarry a little here, as after last week’s advance it has arrived at a resistance level that could force a minor reaction, although the strength of the Accumulation line suggests that any minor dips should be bought.

Meanwhile, we can see that the stocks barometer GDX appears to have broken out of its downtrend in force from last August just last week, although so far the breakout is tentative. However, the strength of the silver chart means that there is a good chance that, perhaps after a minor dip with silver, it will soon gain traction and advance.

There is some resistance here and on its 3-month chart we can see why GDX may react back a little before taking off higher—it has arrived at a zone of some resistance where a rather bearish looking “hanging man” candle formed on Friday.

The conclusion is that the precious metals sector looks like it is beginning an important new uptrend, although we should not be surprised if we see a minor reaction first, and if there is, we can use is to build positions in the better stocks.

Finally, someone close to me was showing enthusiasm for buying Bitcoin in recent days, because “some of her friends we making a lot of money out of it.” As diplomatically as I could, I pointed out that it was not particularly smart to buy something that gone up from about US$3,000 to $60,000 in the space of a year or two, and that it would be a lot safer and probably more rewarding to instead invest in the so far bypassed silver sector. Sure Bitcoin could go up a lot more, driven by massive dollar creation and the fear of banks plundering account holders’ money via negative interest rates and bail-in scams after they introduce the cashless society to trap people, but after its recent huge gains it is very risky, which silver (or gold) investments are not.

Originally posted on at 7.15 pm EDT on 18th April 2021.

Clive Maund has been president of, a successful resource sector website, since its inception in 2003. He has 30 years’ experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.

Sign up for our FREE newsletter at:

1) Statements and opinions expressed are the opinions of Clive Maund and not of Streetwise Reports or its officers. Clive Maund is wholly responsible for the validity of the statements. Streetwise Reports was not involved in any aspect of the article preparation. Clive Maund was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
2) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
3) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Charts provided by the author. Disclosure:
The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund’s opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

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 M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at 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)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.