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Silver's Time Is Coming

Commodities / Gold and Silver 2018 Oct 17, 2018 - 03:18 PM GMT

By: The_Gold_Report

Commodities

Technical analyst Clive Maund charts silver and discusses the factors that he believes will lead silver upward.

Unlike gold and precious metals stocks, silver did not break out strongly on Thursday – although it rose, it did not break out at all, nor was volume exceptional, as we can see on its latest 6-month chart below. However, this is not a cause for concern, because in the early stages of sector bull markets gold leads, so we can expect silver to "follow suit" shortly. This is worth knowing, because it means that it is still possible to pick up a lot of silver stocks (and ETFs) at knock down silly prices before it really starts to move.


Silver's latest COT chart, like gold's, is most encouraging too, with the dumb and wrong Large Specs emboldened to try shorting it again – good luck with that.

Meanwhile the silver Hedger's chart is showing record bullish extremes.

Click on chart to pop-up a larger, clearer version. Chart courtesy of sentimentrader.com

On silver's latest 10-year chart we can see that the pattern may have morphed from what we earlier – and erroneously – thought was a downsloping Head-and-Shoulders bottom into a potential Double Bottom. It should turn up, especially given what gold and PM stocks did late last week. While this chart viewed in isolation doesn't look too inspiring, you will feel a lot better about it after you take into consideration the powerfully bullish COTs and Hedgers charts that we looked at above.

The conclusion is that it is time to take positions in silver, silver futures, ETFs and stocks before everyone else gets the same idea. Speculative short positions in silver are huge and could drive a big spike once silver really starts to move against them.

Clive Maund has been president of www.clivemaund.com, 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.

Disclosure: 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 the content 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 interview or the decision to write an article, until one week after the publication of the interview or article.

Charts provided by the author.

CliveMaund.com 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.


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