close
close

first Drop

Com TW NOw News 2024

    • ‘The Silver Squeeze has officially begun’ Jesse Colombo Silver Analysis
    news

    ‘The Silver Squeeze has officially begun’ Jesse Colombo Silver Analysis

    Vaseline Posted on

    In a dramatic turn of events, the silver market has experienced a significant breakout, which could potentially mark the start of a long-awaited bull run. Financial analyst Jesse Colombo reports this after months of stagnation The silver price rose by almost 7% on Fridaybreaking through key resistance levels and preparing for what some call a “silver pinch.”

    Key Takeaways:

    • The silver price closed decisively above Resistance level at $32.50
    • Trading volume has more than doubled from the previous week’s average
    • Experts predict a possible run to $50 per ounce in the short term
    • Bullish fundamentals include industrial demand growth and declining global mining output

    According to Colombo’s detailed analysis, the silver market has been primed for this breakout for months. “I encouraged investors to remain confident because I believed silver was on the brink of collapse historic bull market‘, said Colombo. His prediction appears to be coming true as the market shows signs of a strong uptrend.

    The outbreak was confirmed by several key indicators:

    1. Silver priced in euros closed above the €30 resistance level
    2. Gold, a key driver of silver prices, is showing strong momentum
    3. Silver mining stocks, which often reflect investor sentiment, have also broken out of their trading range

    Colombo highlighted the potential for one short squeeze on the market, noting: “Swap dealers – mainly bullion banking trading desks – are holding onto their shares largest net short position in eight yearsfor a total of 38,832 contracts. This equates to approximately 194.43 million ounces of silver 23% of annual global silver production.”

    This large short position could fuel further price increases as traders scramble to hedge their positions. “Given the current size of their short positions, gold banks are close to $200 million in losses for every dollar increase in the price of silver,” Colombo explained.

    Colombo’s conditions for confirming the silver breakout

    In his analysis, Jesse Colombo outlined several specific circumstances that he believed would confirm the next stage of the silver rally. These terms provide a framework for understanding current market dynamics:

    1. Spot price breakout: Silver spot price should decisively close above the $32.50 resistance level, supported by strong trading volume. This condition was met on Friday with silver rising 6.38% and trading volume doubling.

    Silver breaking above the $32.50 resistance level (Credit: Jesse Colombo / TradingView)

    2. Price in euros: Silver priced in Euros should definitively close above the €30 resistance level. This condition was not only met, but exceeded, with a closing price above €31.

    Silver €30 resistance level (credit: Jesse Colombo / TradingView)

    3. Price index for synthetic silverA Colombo-developed index, which represents the average of gold and copper prices, should close above its key resistance zone between 2,560 and 2,640. Although this condition was not fully met, Colombo noted that the index recorded a solid gain of 1.21%.

    Synthetic Silver Price Index (credit: Jesse Colombo / TradingView)

    4. Gold price momentum: Gold, as a key driver of silver prices, should show strong upward momentum. This condition was met when gold broke through two major resistance levels since September.

    Gold spot momentum (credit: Jesse Colombo/TradingView)

    5. Copper price supportWhile not an immediate condition, Colombo noted that it is important for copper prices to find support around the $4.25 level to provide additional impetus to silver’s rally.

    Copper Price Support (Credit: Jesse Colombo/TradingView)

    6. Silver Mining Stocks: A strong close on high volume above the $36 to $38 resistance zone for the Global This condition was met on Friday.

    Silver Mining Stocks Support a Resistance Zone of $36 to $38 (Credit: Jesse Colombo/TradingView)

    7. Gold-Silver Ratio: A collapse in the gold-silver ratio, especially a close below the support zone of 83 to 84, would confirm the start of a silver rally and its outperformance against gold. This condition was also met on Friday.

    Gold-Silver Ratio – Silver is currently significantly undervalued compared to gold (Credit: Jesse Colombo / TradingView)

    Colombo’s comprehensive analysis of these conditions provides investors with a clear picture of the current dynamics in the silver market. “The technical and fundamental drivers behind silver are aligning,” Colombo said, “suggesting the price could move significantly higher, potentially reaching levels not seen in decades.”

    Adding to the bullish outlook are the fundamentals of the silver market. Industrial demand has soared, while global mining production has declinedleading to a structural deficit of the past four years. The Silver Institute expects a shortage of 215.3 million troy ounces for 2024which further tightens supply.

    As the silver market continues to develop, investors and industry watchers alike will be keeping a close eye on price movements. With both technical and fundamental factors aligning, the stage appears to be set for what could be a significant bull run in the silver market.

    “The potential for explosive profits has never been clearer,” Colombo concluded, hinting at the possibility of silver prices reaching levels not seen in decades.

    As always, investors are advised to conduct their own research and consult financial professionals before making any investment decisions.

    Source – Jesse Colombo

    Jesse Substack Newsletter

    Follow Jesse on X

    To follow on YouTube

    Full silver price analysis by Jesse:

    Featured Gold and Silver Investment Companies (Advertisement)

    “Best Overall” by Money Magazine, awarded for 6 years, thousands of 5-star rankings

    Expand Details

    Known for exceptional customer service and commitment to transparency, Augusta Precious Metals has received numerous awards, including “Best Overall” from Money Magazine and “Most Transparent” from Investopedia. The company’s commitment to educating and supporting its customers has earned the company top ratings from organizations such as A+ from BBB and AAA from BCA.

    Market leader with over $2 billion in gold and silver. Highest rated precious metals company with buyback guarantee

    Expand Details

    From precious metals to direct purchases of gold and silver, Goldco has helped thousands of Americans invest more than $2 billion in gold and silver. The top rated precious metals company with an A+ rating from the Better Business Bureau, rated three times by the Business Consumer Alliance, earning over 6,000+ 5-star customer reviews Money.Com 2024 Best Customer Service 2024 inc. 5000 regionals: Pacific ranked #17 2024 Gold Stevie Award, Fastest Growing Company Inc. Recipient of 5000 awards, 8+ years

    American Hartford Gold, Ranked #1 Gold Company on Inc. 5000, boasts thousands of A+ BBB ratings and 5-star reviews, endorsed by Bill O’Reilly and Rick Harrison.

    Expand Details

    With more than $2 billion in precious metals sold, American Hartford Gold helps individuals and families diversify and protect their wealth. Their expert team provides investors with the latest market insights and historical perspective, ensuring informed decisions. Trusted by public figures and praised for its exceptional customer service, the company offers competitive prices on top-tier gold and silver coins, backed by a 100% customer satisfaction guarantee.

    This article is for informational purposes only. The opinions and analyzes herein are those of the author and are not financial advice. The Jerusalem Post (JPost.com) does not endorse or recommend any investments based on this information. Investors should consider their financial situation, investment goals and risk tolerance before making a decision. It is recommended to consult a qualified financial advisor. JPost.com is not liable for investment losses resulting from the use of this information. The information provided is for educational purposes only and should not be considered trading or investment advice.




    Vaseline
    View all posts

    You Might Also Like