Technical analysis of silver shows is it currently at a double top. Is this
the peak or the beginning of a new price surge?
When you
consider platinum has led the way and reached a new all time high of
$1,555.00 US Dollars, followed by gold which has also recently hit an all
time high of $891.40 silver looks cheap in comparison. With this in mind we
do expect Silver to catapult its way to somewhere between $20.00 and $24.00
and ounce in 2008. Silver's all time high was over $50.00 per ounce.
Precious Metals typically enjoy two first quarter cycles by March
and April. We see the current rally has begun early and is moving so
rapidly that we may receive three, complete spring rallies instead of two.
In the alternative, we could receive the typical strong season two but
with a more extensive move to the upside.
For Silver this could
be a game of catch up and by our analysis it could very well be the play of
the year.
DISCLAIMER: All of the provided information is believed to be accurate, however errors are possible. The opinions in the Commentary section do not necessarily reflect the opinions of GoldIRAS.com. Past performance of any investment is no guarantee of future performance. All investments have risk.
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