Top Financial Newsletter Profit Confidential Reports: Silver Prices Jump 10 Times in Two Months

Sasha Cekerevac, financial expert and contributor to Profit Confidential, notes that the U.S. Commodity Futures Trading Commission has recently reported that bets on higher silver prices have jumped almost 10 times in the last two months. Cekerevac reports that investors piling into silver in anticipation of a new monetary stimulus plan by the Federal Reserve have caused this extraordinarily strong move up in silver prices.

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Top Financial Newsletter Profit Confidential Reports: Silver Prices Jump 10 Times in Two Months

Top Financial Newsletter Profit Confidential Reports: Silver Prices Jump 10 Times in Two Months

“Hedge funds are the most bullish on silver prices than at any time over the past seven months,” states Cekerevac, citing Bloomberg.

New York, NY (PRWEB) October 10, 2012

Sasha Cekerevac, financial expert and contributor to Profit Confidential, notes that the U.S. Commodity Futures Trading Commission has recently reported that bets on higher silver prices have jumped almost 10 times in the last two months. Cekerevac reports that investors piling into silver in anticipation of a new monetary stimulus plan by the Federal Reserve have caused this extraordinarily strong move up in silver prices.

“Hedge funds are the most bullish on silver prices than at any time over the past seven months,” states Cekerevac, citing Bloomberg.

In the article “Where’s Silver Headed Next?,” Cekerevac reports on the silver market using technical analysis.

The Relative Strength Index (RSI) is indicating that the move in silver prices has become quite overbought in the short term, says Cekerevac. However, he notes that this does not mean that silver prices have to go down; as long as the support level at $32.00 holds, Cekerevac states, silver prices should see a move up.

Cekerevac adds that if support at $32.00 breaks, the next level of support is $30.00, which would mean a failure to establish a new uptrend.

“Another worry is that small retail buyers are not accumulating this commodity,” reports Cekerevac. “The U.S. mint has sold approximately 25 million ounces of American Eagle silver coins, which is about 23% lower than the previous year.”

Cekerevac highlights that the push higher in silver prices is primarily due to hedge funds. He reasons that most hedge funds are very quick traders, in and out rapidly; if support is broken, it would mean a massive dump into the market as hedge funds close their positions.

Cekerevac reports that a key technical analysis level has just been broken, the piercing of the long-standing downtrend line, suggesting on the longer-view that the market for this commodity will be bullish.

Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market... before it plunged.

Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.

To see the full article and to learn more about Profit Confidential, visit http://www.profitconfidential.com.

Profit Confidential is Lombardi Publishing Corporation’s free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit http://www.profitconfidential.com.

Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi’s current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit http://www.profitconfidential.com/critical-warning-number-six.


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