Technical chart shows silver price about to leap towards $100 an ounce

Posted on 17 March 2014

If the double bottom established by gold last year is good for the gold price it is outstandingly good news for silver. The latest technical chart from guru Clive Maund establishes a clear upward bounce towards $100 an ounce silver is in prospect.

He comments: ‘On this chart we see that, despite the severity of the reaction of the past three years, silver never broke down from its long-term uptrend, which now looks set to reassert itself with a vengeance after a fine base pattern has formed at a classic juncture, in a zone of strong support just above the support line of the long-term uptrend.

Monster uptrend

‘Volume indicators are positive, relative to price, and everything is in place for a monster uptrend to begin, with the giant blue arrow drawn on the chart designed to assist those of you with limited powers of imagination in grasping its potential magnitude’…

http://www.arabianmoney.net/gold-silver/2014/03/17/technical-chart-shows-silver-price-about-to-leap-towards-100-an-ounce/