Serpo
10th April 2014, 01:28 AM
Today KWN is putting out a special piece which has some absolutely outstanding silver charts that were sent to us by David P. out of Europe. These are charts that the big bullion banks follow closely in the gold and silver markets, as well as big money and savvy professionals. David lays out the roadmap for a stunning advance in the price of silver, and also reveals some fascinating points about this bull market in silver.Since the high in 2011, silver has gone through a major correction. Silver is roughly 60% off the 2011 high. This may sound extreme but for silver this decline is just a normal move in its bull market. The first big decline was from $8.40 to $5.40 back in 2004 -- that represented a 35% plunge. The next major pullback took place in 2008, when silver collapsed from $21 to $8.40 -- this, like the recent decline, represented a 60% plunge in price....
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/4/10_Shocking_Charts_Show_Silver_Set_For_A_Staggerin g_$70_Surge_files/KWN%20I%204%3A10%3A2014.jpg
Again, this type of move would not be extreme because it reveals how violent advances and declines in the silver market have been up to now. If you also consider that silver is now at the most oversold level in history (see bottom indicator in the chart below), the rally from these depressed levels should be stunning. Another interesting formation to watch is the possible flag pattern (highlighted below):
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/4/10_Shocking_Charts_Show_Silver_Set_For_A_Staggerin g_$70_Surge_files/KWN%20II%204%3A10%3A2014.jpg
Silver will be advancing from a very solid base, and a breakout to the upside from this pattern would easily target $90. I would just add that in a King World News article from January 5, 2012, James Turk also discussed the flag pattern in silver. He said this would be a good launching platform for silver, and also gave his long-term price target of $400 for silver in that KWN piece.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/4/10_Shocking_Charts_Show_Silver_Set_For_A_Staggerin g_$70_Surge.html
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/4/10_Shocking_Charts_Show_Silver_Set_For_A_Staggerin g_$70_Surge_files/KWN%20I%204%3A10%3A2014.jpg
Again, this type of move would not be extreme because it reveals how violent advances and declines in the silver market have been up to now. If you also consider that silver is now at the most oversold level in history (see bottom indicator in the chart below), the rally from these depressed levels should be stunning. Another interesting formation to watch is the possible flag pattern (highlighted below):
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/4/10_Shocking_Charts_Show_Silver_Set_For_A_Staggerin g_$70_Surge_files/KWN%20II%204%3A10%3A2014.jpg
Silver will be advancing from a very solid base, and a breakout to the upside from this pattern would easily target $90. I would just add that in a King World News article from January 5, 2012, James Turk also discussed the flag pattern in silver. He said this would be a good launching platform for silver, and also gave his long-term price target of $400 for silver in that KWN piece.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/4/10_Shocking_Charts_Show_Silver_Set_For_A_Staggerin g_$70_Surge.html