Silver Breakout Imminent – But Which Way?
Silver is setting up for a breakout very soon. In the graph below, we have a ‘declining wedge’ formation – typically very bullish. Silver will eventually penetrate the support (lower) or resistance (upper) red lines. It has to and it will. The formation supports a breakout to the upside.
Have your silver position in place.
Chart is courtesy of Sharelynx at www.sharelynx.com (The Silver Sentiment Composite Index is compiled from silver stocks: CDE – AG – HL – PAAS – PENOLES – SLW – SSRI).
All Things Considered – John’s Commentary:
Action to take: Silver in the $20 range won’t last forever. Continue to slowly accumulate.
What to buy: 1 oz. generic rounds and 100 oz. COMEX silver bars.
Quote of the day: “Every cloud has its silver lining but it is sometimes a little difficult to get it to the mint.” – Don Marquis
