(Kitco News) - For two years the silver market has been quiet, from alonger-term chart perspective. This sideways price action seen on the weeklycontinuation chart for nearby Comex silver futures is "basing"activity that history shows puts in market bottoms--and is very likely to setoff 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 rangeseen on the weekly chart, meaning above chart resistance at $18.65, then thebulls would be off to the races to enjoy much bigger upside price potential.
By Jim WyckoffFor Kitco News
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