Today Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, shared with King World News the key to the silver market and the next big signal for an upside breakout.
Silver
December 18 (King World News) – Michael Oliver, Founder of MSA Research: In last weekend’s report we showed the minor structure at the 50-day line. That was overcome Monday, but by week’s end silver had been stuffed back below that average. So while that level was somewhat important, it’s now clear that the balance point at the +1 level above the 50-day average is more important (and has been since August). That’s where last week’s highest daily close occurred.
Current action is reminiscent of the period from July to September. After a sharp correction from July to early August, silver rebounded into late August; but before taking off, it had one more zigzag down in early September. That balance point at $1 above the zero line was also set in that process (meaning sold into) and eventually on September 11th and 12th.
The 50-day average is $31.94 and not changing much on a daily basis (i.e., up or down a few cents), so to break out credibly over it requires a daily close at $33 or higher this week. You must subscribe to Michael Oliver’s MSA Annual Service to read the rest of this lengthy and timely report. MSA also lists individual mining stocks in their reports that they believe will significantly outperform the HUI Gold Mining Index. To receive the special KWN discount to subscribe to Michael Oliver’s internationally acclaimed MSA Annual Research and gain access to their research and stock picks CLICK HERE.
To listen to Alasdair Macleod discuss the shocking events taking place behind the scenes in the gold and silver markets CLICK HERE OR ON THE IMAGE BELOW.
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