On the heels of the recent breakouts in gold and silver, Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, shared with King World News that gold, silver and mining stocks are about to be unleashed, plus will $800 silver become a reality?
Food Riot Radar
November 12 (King World News) – Albert Edwards: With food prices about to vault above their all time, 2011 Arab Spring highs, isn’t it time World Bank got their “Food Riot Radar” back up and running?
Here Come The Global Food Riots
Graddhy out of Sweden: This chart says that if you are not in yet in precious metals, you are not late – you are very early. Said that we move when yellow backtest is done. And small image in middle shows same purple inverse head & shoulders breakout as for Silver, i.e. we are now moving. My realistic price target for silver is $370. But could $800 happen briefly when silver goes ballistic at the end of the bull market? Absolutely.
Yes Silver Will Hit $370 But It May Soar To $800!
Graddhy out of Sweden: Said for 2 months that Aug 9th looks good as major low. And it did. The orange trend line and green rounded bottom, together with the symmetry with June’s downmove, worked pretty good. And the volume thin zone above $1,837 made the strong move possible. Stylish indeed.
Gold Breakout Very Stylish Indeed!
Gold & Silver Miners At The Gate
Michael Oliver: For gold we want a weekly close at $1825 or higher. It’s well above there now with a day left in the week. For silver we want a weekly close at $25.36 or higher (applicable any week this quarter). It traded today up to $25.365. So the monetary metals are above or at their starting gates, and that’s frankly our prime focus. Watch for that silver closing reading this week (or going forward).
Miners will follow; we have no doubt…
VERY BIG DEAL!
This exploration company just made one of the biggest
acquisitions of 2021 that stunned investors!
To learn more click here or on the image below
But just for clarity we provide comparable quarterly momentum breakout levels for four gold and silver mining ETFs. These numbers are also applicable all during this quarter.
GDX (VanEck Gold Miners ETF) has two breakout levels. First is the zero line, which a 33.70 weekly close will clear. It is well above that level today. The second and larger signal is a weekly close at 35.96 or higher this quarter. The upper red horizontal will come out there.
GDXJ (VanEck Junior Gold Miner ETF)
48.86 (even just traded) will clear the red horizontal structure on momentum.
SIL (Global X Silver Miners ETF)
Close a week this quarter at 41.79 or higher.
SILJ (ETFMG Prime Junior Silver Miners ETF
The major momentum trend channel has been broken out above. MSA would also like to see a weekly close over the balance point of the zero line/3-qtr. avg. That means 14.85 or higher.
Got Silver (Miners)?
MSA assesses that the miners, despite underperforming during the corrective process, will be outperformers vs. gold and silver during the next leg of upside. And we lean more towards silver miners than gold miners. But get these breakout numbers first.
This exploration company just made one of the most exciting acquisitions of 2021 that stunned investors! To learn more click here.
***ALSO JUST RELEASED: The Inflation Shock As The Economic Outlook Is About To Rapidly Deteriorate CLICK HERE.
***ALSO JUST RELEASED: BREAKOUT DAY! Gold Is Still Radically Undervalued, Plus Silver’s Playbook CLICK HERE.
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