Silver Price Forecast: The White Metal Is On A Major Buy Signal
Silver is on a long-term buy signal.
Long-term signals can last for months and years and are more suitable for the long-term investors.
SLV is on a short-term buy signal.
Short-term signals can last for days and weeks and are more suitable for traders.
Speculating is what drives prices both up and down.
Current activity is near levels of previous tops, caution is advised.
From a longer term perspective, silver has broken resistance with support established.
Silver Price Forecast Summary
Silver is on a major buy signal and short-term is also on a buy signal.
However, speculative activity according to COT data suggests that a pullback is imminent, therefore, investors are wise not to chase current prices but wait for the next buying opportunity. www.simplyprofits.org
We do not offer predictions or forecasts for the markets. What you see here is our simple investing model which provides us with simple investing decision making. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets.
Jack Chan is the editor of simply profits at www.simplyprofits.org, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the US dollar bottom in 2011.