Silver Price Forecast 2013: Silver’s Bullish Cup Formation - April 30, 2013
Silver Price Forecast 2013
The most significant fact about silver, from a charting point of view, is the mega cup pattern formed over a period of more than 30 years.
These cup (or cup and handle) patterns are very bullish formations. Below is a long-term silver chart showing the mega cup formation as well as two smaller cup formations:
When a cup is formed, it is often an indication that the price will eventually go higher than the peaks of the cup. This is why the mega cup formation is so significant, because it is telling us that the pri e of silver will eventually go higher than the $50.
For all the cups shown on the silver chart, gold had a similar cup. The main difference between the gold cups and silver cups is the timing.
Outlook 2013-The_Irreversible_Trends_Driving_Gold_to_$10000 - PART 3
Outlook 2013-The_Irreversible_Trends_Driving_Gold_to_$10000 - PART 2
Nick Barisheff, president and CEO of Bullion Management Group Inc, discusses the irreversible trends that will drive gold to $10,000.
In a world where financial and geopolitical certainty is evaporating, no one knows what Black Swan event could cause an explosion in the gold price. Some have suggested it will be the failure of a major bank through derivative exposure, a Middle East war, or a major downgrade of U.S. bonds might also be the catalyst. In 2013, as has been the case since 2001, the best policy for wealth protection remains to simply buy and hold uncompromised bullion until we are once again on solid economic footing.
Hear Nick Barisheff's Outlook 2013 Part 1 Now!
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