The price of silver (SILVER) looks indecisive. For a month now it is trading around $15.85. Why, and what does this mean? We attach an above average importance to silver because it is a candidate for our TOP 3 investing opportunities of 2019 which might deliver mega returns as per our 2019 silver forecast. The silver stocks might be the place to be in 2019.
Interestingly, but unsurprisingly, as the price of silver is not moving there is no silver news whatsoever.
As always financial media will jump on the bandwagon if and when the price of silver will be 50% higher. The majority of investors will then start reading the news, try to get in by chasing prices higher, only to find themselves … buying high … potentially selling low at a later point in time!
As per our 100 investing tips for successful investors:
There are 3 emotion types which act as a serious impediment to see what this small group of really successful investors do see. First, Fear Of Missing Out (FOMO) which makes investors chase prices higher. Second, the psychology of repetition: focus on ongoing price changes, especially green or red figures, creates the perception it is the ‘truth’. Third, hope: see what you want to see as opposed to trends or trend changes.
InvestingHaven is on record calling for a high probability that silver will break out, and in doing so will rise at a minimum 50% in a matter of months. That’s the one and only reason why we provide such an extensive coverage on the gold and especially silver market in recent weeks. Smart investors are ready to get in immediately after the breakout is confirmed, otherwise they will miss the subsequent rally.
Note, at InvestingHaven we provide coverage before the really juicy profits are made, not after or at the end of it (which characterizes financial and social media).
As seen on the weekly silver price chart the silver price broke out from a rounding bottom formation in January.
However, it stalled right at the start of this giant breakout point at $15.85. This is an extremely important price level because once above it we will see a major run in no time (50% in 3 months is our forecast).