No time to waste so I’ll cut to the chase: My AI forecast model clearly shows silver is forming a short-term top and that we should see lower prices for the white metal into mid-to-late April.
I expect similar corrective action in gold, but as is typically the case, the decline in silver should be steeper than gold in terms of magnitude. To profit from this correction, I expect the better play is with silver.
As you can see from the chart below, I expect a short-term pullback in silver, potentially falling as low as $16.50 before finding support.
The good news: I expect this to be only a temporary, and overdue, correction in the precious metals. Higher highs for both gold and silver will follow soon.
As for potential gains from this correction, you should already be well positioned to profit with shares of Direxion Daily Gold Miners Index Bear 3X Shares (DUST). Continue to hold with your good-till-canceled protective sell stop at $24.05. Gold and silver mining shares should continue to correct along with the metals and to a greater degree.
Now, I have another way for you to aim for profits: Buy VelocityShares 3x Inverse Silver ETN (DSLV) today, details below. But note: Silver may bounce first, so don’t be shaken if the position goes against you early on!
Hold all other positions and related protective stops, including your shares in ProShares UltraShort Dow 30 (DXD). And remember, I will be monitoring the stop on this position for you.
Here’s what to do:
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All Members Should Now Buy DSLV: Using 5% of your funds allocated to this service, buy shares in VelocityShares 3x Inverse Silver ETN, symbol DSLV, at the market. Place a good-till-canceled protective sell stop at $18.90. |
Best wishes,
Larry
