Next Price Target For Silver, Plus A Look At Oil

Here is the next price target for silver, plus a look at oil.

Silver
June 18 (King World News) – Naveen Nair at Citi:  It remains a very bullish picture in silver after we broke above the $34.5895 (March high) as well as the key resistance at 34.90-35.00 (October 2024 high, double bottom neckline, psychological level) earlier in June.

We are now testing resistance at the 37.48 level (2012 highs). However, the double bottom formation suggests we could move even [higher] with an indicated target of ~40.43, close to the 76.4% pullback of the 2011 highs. And this would be excluding the other bullish building blocks: 1) The weekly bullish trend since 2022 remains intact. 2) Weekly momentum continues to tick higher.

KING WORLD NEWS NOTE: Next Target For Silver = $40.43

Undervalued?
Peter Boockvar:  I thought this was a pretty interesting chart from Jim Reid at Deutsche Bank that he posted yesterday to give perspective on the current price of oil in REAL terms. Relative to the last 150 plus years, it’s still pretty cheap.

KING WORLD NEWS NOTE: Oil Remains Historically Cheap

Israel-Iran War May Lead To Nuclear Annihilation
To listen to Gerald Celente discuss the possibility of a nuclear war and what to expect as the world edges closer to World War III CLICK HERE OR ON THE IMAGE BELOW.

JUST RELEASED
To listen to Alasdair Macleod discuss the wild trading this week and why gold is poised to explode higher CLICK HERE OR ON THE IMAGE BELOW.

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