Special Alert: $32/oz (+80%) Silver call and #1 Stock Pick from Silver Chairman

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Silver Graph LinkedIn John Lee | James Alexander Michie

Discover Silver Elephant Ming Corp (TSX: ELEF.to OTCQX: SILEF) ahead of possibly the most violent silver run-up of this millennium

July 1, 2020

John Lee, CFA

  • Silver’s technical and fundamental factors point to an imminent price target of $32/oz, representing an 80% gain over current level of $18/oz
  • Gold futures achieved the highest quarterly close in history of $1,805/oz, once silver breaks through the neckline of $19.5/oz, it could reach $32/oz in 6 months based on price history
  • Silver mining companies with the largest silver resources in the ground reward investors the most in a silver bull market

My advice to metals investors is to pay attention to gold and silver only, not to copper, uranium, lithium, or cobalt.

On this Canada Day, July 1, 2020, a major once-in-a-decade silver bull has arrived, with the minimum imminent target of $32/oz based on silver’s price history, technical indicators, metal fundamentals, and investment appeal.

Silver’s history and technical indicators

Silver has staged 2 major run-ups since 2000.

First was when silver went from a low of $6/oz in 2004 to $15/oz in early 2006. This was when the US depleted its strategic stockpile of silver.

The other was when silver went up from a low of $9/oz in 2009 to $50/oz in early 2011. This was the consequence of the Fed’s near-zero interest rates and quantitative easing actions following the 2009 financial crisis.

Silver exceeded the upside price targets on both occasions based on reverse head and shoulder pattern prediction. Below is an example from dailypriceaction.com.

In a third, and possibly most violent, run-up of this millennium, the silver price target is $32/oz.

Silver’s Fundamentals and Investment Appeal

Within one year, the Fed Funds Rate has gone from what was an already measly 2.5% in 2019 to near-zero now, while its balance sheet has ballooned to over $6.7 trillion due to its quantitative easing operations.

The Fed isone of the biggest holders of US treasury, mortgage debt, and now Commericial Corporate Bond ETFs. Will the Fed follow the Bank of Japan, which owns almost 80% of all ETFs domiciled in Japan?

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Source: John Lee | LinkedIn

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