Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, sent King World News a very important note predicting the price of silver will skyrocket to $300-$500 by summer.
April 20 (King World News) – Michael Oliver, Founder of MSA Research: The 50-day avg. is similar to the 10-wk. avg. and almost the same as the 3-mo. avg. All are intermediate trend yardsticks. The 50-day avg. happens to be one that many investors and analysts watch as if that average itself is important (like the 200-day). Sometimes structurally important, but often not.
A single example was the pivotal low in November last year at the zero line (red arrow). It was finally broken below in February, but even that breakage didn’t create any new further downside at that point. Instead, silver rallied over $20 right after that breakage. It has since repeatedly woven above/below that average.
Our focus was on the parallel channel plotted through peak and low daily closes since the late January collapse. Action cleared the channel and the pivotal red line as well last week. This doesn’t mean there will be some sort of vertical surge now, but it does argue to MSA that this process has shifted back into upside. Also, this upward shift has occurred after the very brief price plunge on March 23rd that took out the early February price low—to no avail for the bears.
We hold to our projection that once this violent congestion/pullback process ends, silver will seek out a new price reality probably between $300 and $500—fairly quickly and possibly this summer. We’ve given our rationales for that in many prior reports over the past handful of months. KING WORLD NEWS NOTE: The commentary and chart were part of a much larger special report on gold, silver, miners, the stock market and more released by Michael Oliver. You must subscribe to Michael Oliver’s MSA Annual Service to get his special reports as well as his stock picks which have dramatically outperformed. 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 subscribe today by CLICKING HERE!
Roadmap To A Jaw-Dropping $75,000 Gold Price
To listen to Jonathan Haycock discuss $75,000 in this powerful and timely audio interview CLICK HERE OR ON THE IMAGE BELOW.
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