Silver leads the precious metals breakout in impressive fashion....

Silver leads the precious metals breakout in impressive fashion. The Cup & Handle pattern indicates an 18 target to be reached very quickly. Both following charts exhibit a constructed launching pad for an assault on the $20 level. Suspicion has arisen that China is acquiring silver in an industrial stockpile, possibly for monetary purposes also. A bigger controversy has emerged, whereby JPMorgan might be the hired agent by China to secure vast amounts of silver bullion. The USGovt appears to have reneged on yet another lease contract with the Middle Kingdom. The US has confirmed once more itself to be the exceptionally corrupt nation. See the weekly chart for silver, where the breakout is as clear as one’s reflection off a shiny silver surface. It is consolidating at the $17 price level.

A different pattern is shown on the daily silver chart, one that rhymes with the breakout in the weekly silver chart. Notice the surge in volume to exit the range established since February. The target for the daily chart breakout is also indicated around the $18 level. This chart and the chart above resemble a launching pad of a different look where a tilted range no longer held the price movement.

SILVER SURFER

Beware the silver surge in impressive moves upward. The silver price has surged over 10% in the last two or three weeks to over $17 per ounce, where consolidation occurs. The Silver Surfer is on the move, making his presence known. The Sprott Silver fund will add $75 million to silver drainage. Gold fights the geopolitical banker battles, but silver rides through the gate on a swift white horse. Silver has surged in recent weeks. Its impressive move of nearly 80 cents on April 19th was duly noted, an echo from the Shanghai gongs. Silver easily surpassed technical resistance at $16.20/oz. The next big test is resistance at $18 per ounce. The brief peaks in early 2015 will not stop the Silver march upward. No significant activity was seen at either minor peak event, a requirement for resistance to be exerted. The Silver Surfer is ready to capture the earth’s attention again.