EDITOR'S NOTE: A jump of $10 in as little as 10-day’s time might seem a bit exaggerated, but that’s what The Morgan Report is forecasting for silver. The price of $24.40/oz is the key level analysts are focusing on. Silver is hovering just below it. A “technical” break above that can trigger a colossal jump to $34/oz. The bullish news is that such a move happens to be fundamentally justified in the short-to-long term (considering geopolitical risks, inflation, and green tech production). If you think about it, silver has been hovering at relative lows for some time, presenting an easy entry point for investors who see its longer-term opportunities. The fundamental factors driving silver’s bullish forecast remain solid. Its supply conditions have long been on the tighter side of things. The missing factor is market sentiment (the same “mainstream” sentiment that underestimated inflation even as it surged very slowly over a two-year period). So, check out the thesis below and decide for yourself if this forecast warrants action. The window appears to be closing fast.
If silver breaks above $24.40, then we could see silver jump $10 within days or weeks. Senior analyst of The Morgan Report David Smith sees a bull-market in metals more dramatic than in the 70s. Persistent stagflation could send gold and silver through the roof.
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Source: The Morgan Report
Originally posted on The Morgan Report.