The silver market was on fire on Tuesday July 16th 2019 with awesome rallies especially in top silver stocks. First Majestic Silver as per our forecast (AG) rose almost 10 pct, Fortuna Silver Mines rose almost 15 pct, and the price of silver went up more than 2 pct. This comes after the gold price, leading indicator in the precious metals space, gave green light by confirming its gold price breakout above 1400 USD. What does all this mean for the silver market? As per our viewpoint silver is a precious metal to buy in 2019 because it also confirmed a major breakout on its chart. If gold is bullish and silver miners are bullish, then silver must be bullish as well, right? Yes, it’s as simple as this.
To be more precise all of the above implies that silver is a precious metal to buy now to get the rewards later in 2019.
Stated differently, the silver market through the silver price chart tells us that it started a bullish trend which typically is fast and furious. A bull trend in silver is mostly short and powerful especially once a ‘chart breakout’ is confirmed.
That’s what we see now on the weekly price chart of silver. And that’s why we believe silver is a precious metal to buy now as it will rise some 50% in 2019 (read also our 2019 silver forecast).
The weekly silver chart embedded below has 4 parts:
- In 2014 and 2015 it was falling and bottomed at multi-year lows. The end of this crash is what we would call the ‘puke phase’, read more about this in our 100 investing tips.
- In the first 6 months of 2016 we see a typical silver rally: explosive to the upside with +50% gains in less than 6 months.
- This got followed by a bear market until …. last week.
- As of this week we see a confirmed breakout and most likely the start of a short and powerful trend higher.
This is a recurring pattern in silver. Pretty tought for investors to get the maximum profits out of the silver market, it’s nerve wracking and hard to time, requires lots of patience which is what most investors lack.
InvestingHaven’s research did everything it could to help its followers stay in this market as today’s breakout was so obvious it would happen (timing it was the harder part). They should be among the few ones fully benefiting from it.
There really is a reason why silver is the restless metal.
