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Silver Is Presently A Longer-Term, Value-Buying Opportunity

Kitco News

(Kitco News) - For two years the silver market has been quiet, from a longer-term chart perspective. This sideways price action seen on the weekly continuation chart for nearby Comex silver futures is "basing" activity that history shows puts in market bottoms--and is very likely to set off a big rally at some point down the road.

Silver prices at present levels are a longer-term, value-buying opportunity. If silver futures prices can push above the trading range seen on the weekly chart, meaning above chart resistance at $18.65, then the bulls would be off to the races to enjoy much bigger upside price potential.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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