Silver Could Go Higher in 3 Charts

Dear Reader,

When preparing yourself for the eventual economic crisis, diversity is key.  Putting all your eggs in one basket is a recipe for disaster! Why not consider silver?

I have come across three different charts that suggest silver might be ready to move higher. Lackluster results across the commodity spectrum have spooked investors lately, however, it just might be a little too early to give up on silver.

Chart 1: iShares Silver Trust (SLV)

As you can see in the chart below, the price of silver has experienced a significant pullback from its peak earlier this year. Bullish traders will likely look to enter positions as close to current levels as possible and set their stop losses relatively close to the dotted trendline. This move just might be enough to interest those who have been stagnant and could be the catalyst for a move higher.

Chart 2: Southern Copper Corporation (SCCO)

Bullish price action so far in 2019 on the chart of Southern Copper Corporation (SCCO) has sent the price above its 200-day moving average. What is of specific interest in the chart below is the bullish crossover between the 50-day and 200-day moving averages (shown by the blue circle) at $37.60. This common long-term buy signal is often used to mark the start of a major uptrend, and a couple days of selling could be presenting traders with an ideal entry position. 

Chart 3: Pan American Silver Corporation (PAAS)

Because there are a limited number of silver mining companies, most followers of the silver market are likely well-versed in the operations of Pan American Silver Corporation (PAAS). It is obvious, as seen in the chart below, that the bulls have been frustrated as of late. The pullback near the 2019 high of $15.50 has left most who have opened a position this year with a paper loss. However, notice how the price is nearing the support of an influential trendline. This chart suggests that the bulls may be more interested at $12.50 and could be gearing up to open positions at current levels so that they can set a tight stop loss in case of a continued sell-off. 

These charts and interpretations of them can be found on Investopedia. So far in 2019, silver is one of those commodities that has shown the most promise. Based on the three charts above, it could be time to invest in silver if you’ve always had the desire. Silver-related assets have suffered from the recent selling pressure, but as traders look elsewhere, it could push higher.

Investing Haven is also moderately bullish on silver for the remainder of 2019. The conditions were just not as favorable as they should be in the past 8 years, but Investing Haven wholly expects this to change in July or August of 2019.

Silver doesn’t look all too appealing right now, and that’s exactly why some believe it will move higher. Consider your options, and perhaps silver is the correct move for you.  Maybe it isn’t, but the suggestion to diversify stands firm – even if you are hesitant to invest in silver.

Daniel Ameduri
FutureMoneyTrends.com