{"id":18434,"date":"2021-05-14T07:30:28","date_gmt":"2021-05-14T11:30:28","guid":{"rendered":""},"modified":"2021-05-14T07:30:28","modified_gmt":"2021-05-14T11:30:28","slug":"this-metal-is-heating-up-for-a-big-rally","status":"publish","type":"post","link":"https:\/\/jeffclarktrader.com\/market-minute\/this-metal-is-heating-up-for-a-big-rally\/","title":{"rendered":"This Metal Is Heating Up for a Big Rally"},"content":{"rendered":"

Silver is in the early stages of what could be a very bullish<\/a> move.<\/p>\n

The price of silver has been in a stealth rally over the past few weeks. It’s gone mostly unnoticed, as many traders have been distracted by the action in cryptocurrencies, lumber, and skyrocketing non-fungible token (NFT) prices.<\/p>\n

But, the silver rally is heating up. <\/p>\n

And, it could make a big move… Soon.<\/p>\n

Take a look at this chart…<\/p>\n

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(Click here to expand image)<\/a><\/p>\n

Silver has been in a wide, nine-month long trading range between $23 and $28 per ounce. It tested the lower end of that range in late March. And now, the price of silver is approaching the upper end of that range.<\/p>\n

It looks to me like silver is ready to break out to the upside of this trading range…<\/p>\n

The moving average lines on the chart have shifted into a bullish formation with the red 9-day exponential moving average<\/a> (EMA) above the green 20-day EMA, and the 20-day EMA above the blue 50-day moving average<\/a> (MA). <\/p>\n

This sort of “bullish crossover” often marks the start of an intermediate-term rally phase.<\/p>\n\n\n\n
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Free Trading Resources<\/strong><\/p>\n

Have you checked out Jeff’s free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career \u2013 at zero cost to you. Just click here<\/a> to check it out.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

You’ll notice the last time the silver chart showed a bullish crossover, back in December<\/a>, the price rallied from $24 an ounce to above $28… A gain of 17% in about three months.<\/p>\n

This time, the bullish crossover occurred with silver trading at $26 per ounce. A similar gain of 17% would push the price up above $30 within the next several weeks.<\/p>\n

Keep in mind, though, silver has been stuck in a trading range for nine months… There’s a lot of energy built up in this chart. So, if silver can break out to the upside of the range, then it could lead to a much larger rally than what occurred back in December.<\/p>\n

Most folks aren’t paying any attention to silver just yet. The action has been too quiet for too long.<\/p>\n

But, if silver can rally above $28 per ounce, the market will take notice.<\/p>\n

Traders should use any short-term weakness in the metal as a chance to buy.<\/p>\n

Best regards and good trading,<\/p>\n

<\/p>\n

Jeff Clark<\/p>\n

P.S. <\/strong>Last Friday, contributing editor Eoin Treacy sent out his first edition of Eoin’s Insights<\/a> \u2013 where he briefly discussed inflation, and what he thinks will be the trades to look for post-pandemic. Luckily, Eoin will be posting his market analysis every Friday, so don’t forget to tune in.<\/p>\n

Today, he’s going to be sharing more of his trading ideas and off-the-cuff market musings. Check it out down below…<\/p>\n

<\/a><\/p>\n

Eoin’s Insights<\/strong><\/h2>\n

Hey, Market Minute<\/em> readers. First, I would like to thank all the readers who sent in positive feedback about my first video last week \u2013 I hope my videos will help you make more informed investments. <\/p>\n

And now, I’ll be talking about the movement in bitcoin, the “cult” of Tesla, and the tech sector. Just click below to watch.<\/p>\n

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