GoldSeek Radio Nugget - Bill Murphy: Silver Is the 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 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.