Silver Wants to Shine!

Something you may not know about silver, and I'd like to show you, is that it's definitely consolidating above an important base.

I'll show you in a moment. I'll slide it sideways on the phone, but we think silver is about ready to bottom out and make a lift.

After all, we're hearing more talk again—for what, the 27th time?—that we have some kind of deal involving Iran and the U.S., along with the Black Sea. Silver is getting antsy over the prospect of expanding economic usage.

And this is what's interesting about silver.

I'm going to slide this sideways on the phone for you.

You can see the channel we've been trading in. That bottom channel is based on last year's double hit near $53–$54, as you can see here.

Once silver broke through that level, we saw that monster move higher.

What's interesting is that we're now in October. If you look back over the past decade, especially the last six years, silver has developed an interesting seasonal habit.

Last year, silver bottomed at the end of October before making that massive explosion higher.

Two years ago, it rallied into October, sold off into year-end, and then took off.

But if you keep going back year after year, October has a tendency to mark a low for silver before prices eventually reverse higher.

Today, silver put in a pretty good outside day to the upside.

Our buy target has been anywhere from $55 to $57.

And you know, as everybody out there says, this is not trading advice!

If you buy based on this analysis, just remember that past results are not indicative of future results. Consider those risks very carefully when investing.

There, we've satisfied the government!

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*This is not trading advice; past results are not indicative of future results*