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Silver: This Indicator Reaches "Record Extreme"

Hedge funds are betting on silver as the precious metal's price surges

by Bob Stokes
Updated: September 05, 2019

On November 14, 2018, after silver had been declining for 5 months and had just made a new 2½ year low at $13.87, we issued a rare, combined Elliott Wave Theorist / Elliott Wave Financial Forecast Interim Bulletin that said, in part:

Silver may have made its low for the year this morning.

As it turned out, silver bottomed that very day and has rallied 41% as I write on Sept. 4, 2019.

As you can see on this chart from our new, September Elliott Wave Financial Forecast, right now silver also deserves your attention, because one time-tested indicator has reached a record extreme:

silver-full

This week started with a higher gap opening. Interest in silver is naturally increasing as prices do, as shown by the record rise in the monthly volume in silver put and call options.

This bullishness toward silver has been reflected in financial headlines:

  • Why Silver Will Be a Better Bet Than Gold if the Precious Metals Rally Continues (TheStreet, July 31)
  • Silver Scramble Erupts on Gold Gains as Investors Play Catch-Up (Aug. 28, Bloomberg)
  • Hedge funds holding gold but betting on silver... (Kitco, Sept. 3)

Is it wise to jump on board this fast-moving silver train now? After all, many prognosticators believe silver's upward rise has more to go.

Of course, it's possible that silver's bullish action may persist for a time.

However, investors would do well to consult the Elliott wave price pattern of silver.

Our analysts are doing just that and letting subscribers know when they expect silver's upward push will terminate. Just as important, our analysts are letting subscribers know how far they expect silver's price will drop thereafter.

Get EWI's latest insights on silver -- as well as gold -- without any obligation for 30 days. Look below for details.

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Their Elliott wave chart patterns speak loudly and clearly.

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Avoid such a precarious strategy.

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Continue reading to learn more …


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