{"id":22397,"date":"2020-07-13T17:13:45","date_gmt":"2020-07-13T23:13:45","guid":{"rendered":"https:\/\/srsroccoreport.com\/?p=22397"},"modified":"2021-09-17T11:19:15","modified_gmt":"2021-09-17T21:19:15","slug":"will-silver-reach-21-in-the-current-rally","status":"publish","type":"post","link":"https:\/\/srsroccoreport.com\/public\/will-silver-reach-21-in-the-current-rally\/","title":{"rendered":"Will Silver Reach $21 In The Current Rally?"},"content":{"rendered":"

Now that the silver price has broken through the important $18.50 level, will it reach $21 during this current rally?\u00a0 Silver was up 70 cents for the day (Monday).\u00a0 However, after Dallas, Fed President Kaplan announced today that the “Emergency Facilities” used to support the economy might be pulled back, the markets sold off from their highs.<\/p>\n

This included Tesla, which briefly touched $1,795 about 15 minutes after the market opened, then closed at $1,497.\u00a0 \u00a0I imagine many “unsophisticated” investors lost their lunch after Tesla’s stock price shed nearly $300 in just a few hours<\/strong><\/span>.\u00a0 Anyone crazy enough to trade a stock worth $1,500 a share has to be insane unless you are a seasoned professional.<\/p>\n

Even after the market sell-off, silver was still up nicely for the day.\u00a0 Stockcharts shows silver closing near the highs of the day at $19.79.\u00a0 But before I reveal the chart, here is my silver chart posted on Wednesday, July 8th:<\/p>\n

\"\"<\/p>\n

As I have mentioned in several articles, when a stock or commodity price BREAKS above a certain key technical level, it goes on the professional traders’ radar.\u00a0 Thus, a BREAKOUT is a motivation for traders to jump aboard and ride the price higher to the next level… which is $21.\u00a0 On July 8th, silver closed at $19.16 (stockcharts.com, not Kitco’s price).<\/p>\n

Today, silver shot up 70 cents and closed at $19.79, only $1.21 from that $21 target level<\/strong><\/span>.<\/p>\n

\"\"<\/p>\n

These are monthly charts, which show an entire month’s worth of trading in once candlestick.\u00a0 I like to use the monthly chart because the technical levels are more long-term.\u00a0 The silver price has remained below the $18.50 level since October of 2016.\u00a0 And, by that, I mean the silver price closed below the $18.50 level (on a monthly basis) since October 2016.<\/p>\n

Interestingly, if you look closely at the June candlestick, it barely closed above the $18.50 level.\u00a0 With silver now trading $1.00 above the $18.50 level, there is a good chance that traders will continue to push it up to the $21 level.\u00a0\u00a0<\/strong><\/span><\/p>\n

I have to say, after watching the Day Trading markets for a year, it’s amazing how these technical levels are MAGNETS for the price action.\u00a0 Of course, there is no guarantee that the price will move a certain way, but there is a better chance when it breaks above or below critical technical levels.<\/p>\n

When silver finally does reach the $21 level, we are likely going to see a correction before resuming the longer-term bull market.\u00a0 Furthermore, the $21 level is much more important than the $18.50 level.\u00a0 When silver finally BREAKS the $21 level, it can move up to $27.50 very quickly.\u00a0 I will be posting a new video on this shortly.<\/p>\n

Lastly, CLOUD HARD ASSETS<\/strong><\/a> still has the lowest 2020 Silver Eagle prices in the market.\u00a0 \u00a0I just updated the premium prices and chart for the top four leading precious metals dealers versus CLOUD HARD ASSETS<\/strong><\/a> and here are the prices as of close today:<\/p>\n

Top Four Leading Online Precious Metals Dealers 2020 Silver Eagle Prices (based on 1-19 coins)<\/strong><\/span><\/p>\n

    \n
  1. Precious Metals Dealer #1 = $28.36<\/li>\n
  2. Precious Metals Dealer #2 = $27.16<\/li>\n
  3. Precious Metals Dealer #3 = $27.11<\/li>\n
  4. Precious Metals Dealer #4 = $26.13<\/li>\n
  5. CLOUD HARD ASSETS\u00a0 \u00a0 \u00a0 \u00a0= $24.33<\/strong><\/span><\/li>\n<\/ol>\n

    Not only does CLOUD HARD ASSETS<\/strong><\/a> have the lowest Silver Eagle Prices, but they also have the lowest prices for Silver Maples Leafs, only $3.40 over spot.<\/p>\n

    If you want to find out more about CLOUD HARD ASSETS, click on this page:\u00a0 PRECIOUS METALS INVESTING<\/strong><\/a>.<\/p>\n