Silver Market Update

By: Clive Maund | Thu, Jan 26, 2006
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What a difference a few hours can make! After posting the article "The Great Silver Standoff", additional research for a new Silver Market update revealed that on the arithmetic chart, silver has in recent days successfully tested the lower channel line of a fine parallel uptrend channel, and is now in position to break strongly higher, an event that can be expected to trigger another strong rally in gold.

The 6-month chart for silver shows the fine uptrend channel and how, with the lower channel line now approaching the price from beneath, it is about to force an upside breakout. While a breakdown from this channel is technically possible, and would of course be a sell signal, it is assigned a very low probability. WE THEREFORE COME DOWN OFF THE FENCE DECISIVELY AND EXPECT A MAJOR UPSIDE BREAKOUT BY SILVER VERY SOON.

Any sidelined funds from recent sales of precious metals stocks should be immediately redeployed in strong gold and silver stocks that are not ridiculously overbought. If you have recently sold stock take the opportunity to redeploy into those with the most potential.


 

Clive Maund

Author: Clive Maund

Clive Maund,
CliveMaund.com

The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maunds opinions are his own, and are not a recommendation or an offer to buy or sell securities. No responsibility can be accepted for losses that may result as a consequence of trading on the basis of this analysis.

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.

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