Exit From Massive Silver Base Projects Staggering 1,020% Move
February 7, 2013
The following chart was put together exclusively for King World News by Kevin Wides out of Switzerland. Once again, this is a way for all King World News readers globally to take an important step back and look at the big picture in key markets such as gold and silver. Note that the minimum projected move for silver would cause convulsions for mainstream media pundits who have incorrectly been predicting the end of the metals bull run.
“As the saying goes, a picture tells a thousand words. I have taken a monthly line chart on silver going back to 1970. The 1970’s bull market from a technical perspective is picture perfect. There are a clear 5 waves up (as seen on the chart below), with the largest being the 5th wave which represented a staggering 808% gain for silver.
This is the norm for commodities as wave 5 is driven by fear and scarcity. The 70’s corrective waves of 2 and 4 have alternation, where 2 is fast and steep, and 4 is slow, drawn-out and volatile. The subsequent 20 year bear market made obvious key levels of support and resistance as noted by the yellow circles and horizontal red lines that I have extended into today’s time frame….