Today one of the greats in the business told King World News that the massive multi-decade silver cup & handle formation is close to breaking out!
May 15 (King World News) – Eric King: “James, can you talk about that multi-decade cup & handle formation in silver because it really looks like silver is ready to go attack that (old all-time high) $50 level?”
James Turk: “The amazing thing about this, Eric, is that I’ve been following this silver cup & handle develop through my newsletter going back to the 1990s, so it is a multi-decade cup & handle. In 1980, silver went up to $50 an ounce, then it formed a huge, huge cup. It then reached $50 again in 2011. So you had 31 years of a cup formation. Now, over the past 9-10 years, you are getting the handle of that cup.
So what you have been seeing is a huge accumulation of physical silver, and it’s understandable because silver is so cheap. It’s one of the few commodities that is trading not only below it’s 1980 high but well below its 1980 high of $50 an ounce. So silver is unbelievably cheap, and when this cup & handle finally finishes developing with a break above $50 an ounce, that’s when silver’s bull market gets started. Silver is still…to continue listening to James Turk discuss the key breakout numbers for gold, silver and the mining stocks as well as where the prices of gold and silver are headed long-term CLICK HERE OR ON THE IMAGE BELOW.
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