New York, NY, July 25, 2016 – Profit Confidential (www.ProfitConfidential.com), an e-letter of Lombardi Publishing Corporation, a 30-year-old consumer publisher that has served over one million customers in 141 countries, explains that three key technical indicators suggest silver prices could soar 900%.
“Silver prices are up more 45% year to date and have been the best-performing asset class to own in 2016. Could the gray precious metal go even higher? In a time of diminishing returns and negative yields, silver prices could be setting up to reward investors big time,” says financial analyst, Moe Zulfiqar. “In fact, if you look at it from a technical analysis point of view, there is plenty of advantages to silver.”
Zulfiqar explains that the first technical indicator to consider is the daily volume and the direction of silver prices. Since the beginning of 2016, as silver prices increased, the volume did as well. This suggests that there is strong demand from buyers, that they are excited, and that this could drive the price of silver higher.
“The second technical indicators are the 50-day and 200-day moving averages that suggest a bullish outlook. Silver prices are now above both of these moving averages,” Zulfiqar explains “This says that silver prices are trading above their intermediate- and long-term trends. The last time silver prices crossed above these moving averages was back in 2009. After that, investors saw a massive move to the upside.” This does not necessarily mean silver prices will move higher because of these moving averages, but it is a good indicator of where the precious metal’s price could go next.
Finally, investors need to take a look at the long-term trend in silver prices. The long-term trend continues to point upwards, and this is a positive sign for those bullish on silver. The last time silver prices crossed over and rose above this moving average silver prices soared close to 900%.
“These technical indicators suggest silver prices could go much higher, and could hit $30.00 an ounce by the end of 2016. In the long run, silver prices could reach their 2011 highs of around $50.00 per ounce in the next two to three years,” Zulfiqar concludes.
Founded in 1986, Lombardi Publishing Corporation, which has served over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more information on Lombardi Publishing Corporation, visit www.LombardiPublishing.com/