GoldSeek Radio Nugget - Bill Murphy: Silver Most Bullish I've Ever Seen

Bill Murphy of Lemetropole Cafe and GATA.org, comments on the explosive move higher in silver of the past month: "... The monthly silver chart is the most bullish he's seen in his life..."

- Is silver building up steam for an explosive vertical move?
- Bill notes $26 & $30 are the last two hurdles left to eclipse, by the silver bulls.

Now that we've seen one of the most explosive one-month rallies in silver, I will be thrilled. If we get through $26 for starters and then $30 are key. But JPMorgan – I've we've talked many times – this is where they knock it down now. So far, they haven't done it; gold's broken out, as you well know and speak about and silver's right there. Again, this is where it's failed, I don't know, 50 times in a row and if it doesn't fail, we go back up, it can take out $26. Then we got something.

He continues:

Oh, it's four years in the monthly [silver] charts, it's the most bullish thing l've ever seen in my life, big picture – but short term we go through the same nonsense because of these people that won't let it go.

Bill Murphy of Lemetropole Cafe and GATA.org, comments on the explosive move higher in silver of the past month: "... The monthly silver chart is the most bullish he's seen in his life..."

- Is silver building up steam for an explosive vertical move?
- Bill notes $26 & $30 are the last two hurdles left to eclipse, by the silver bulls.

Now that we've seen one of the most explosive one-month rallies in silver, I will be thrilled. If we get through $26 for starters and then $30 are key. But JP Morgan – I've we've talked many times – this is where they knock it down now. So far, they haven't done it; gold's broken out, as you well know and speak about and silver's right there. Again, this is where it's failed, I don't know, 50 times in a row and if it doesn't fail, we go back up, it can take out $26. Then we got something.

He continues:

Oh, it's four years in the monthly [silver] charts, it's the most bullish thing l've ever seen in my life, big picture – but short term we go through the same nonsense because of these people that won't let it go.

- Once those resistance points are cleared, little technical resistance remains.
- A monthly close above $30 could soon be followed by a retest of $50. Above $50, there is little technical resistance below $100.
- If history follows the pattern set during the last PMs bull market, silver could leave the launch pad as gold approaches $2,500.
- Since impressive silver advances are known to lag new highs in the gold market by several months, theta-related, time-decay investments may be less suitable for this opportunity.
- Once the nascent bull market is recognized by the mainline media, silver show should commence!
- Mega-star podcaster, The Health Ranger, is now calling for triple-digit silver, in the long term.