According to Wikipedia, technical analysis is security analysis discipline for forecasting the direction of prices through the study of past market data. Last week I talked about silver price is trapped in a flag. I used gold past market data to forecast the direction of silver price. If you missed that post, I recommend you read it again.
This week we will look at an interesting historical silver price movement to forecast today’s silver price movement. We will go back to history in 1968 to 1973. Notice I have drawn 13 points within this period for all the ups and downs. After point 13th, silver price shoot up.
Now in 2012. I noticed there is a similar pattern in our silver price for the past 1 year.
See them carefully. These 2 charts are very identical. Are we in point 13th already? If we are, does it mean silver price will shoot up anytime now? I will leave it for you to answer!
My friend Ikram Adi is very good at forecasting silver price. He has a special and simple technique to determine when is a good time (and when is a bad time) to buy silver. This is what he said before the major silver price crash 30% in May 2011. He forecast it would be 30% drop and his words came true. He targeted price would revert at between $30 to $34 and the fact is, price reverted at $32.40. Again, his forecast is accurate. Quite an amazing guy right?
After I study his material, I realized that he is a very knowledgeable investor. I really recommend you study his material too.
If you want to learn more about silver investment in depth, my friend Ikram Adi has shared his Strategy Of Buying Silver With 79% Discount in his eBook. Please visit his website to download a free copy of 18 pages!
Hope you have enjoyed my post for Silver Price in 1970. Happy Investing!