Chris sits down with Craig Hemke of Sprott Money to talk about their Precious Metals forecast and break down interest rates and oil charts. As we start the year, commodity and energy prices are roaring to life. It’s the perfect time to look at the charts and see if precious metals are about to break out or are just scratching the surface.
Looking at the monthly chart of Silver, it is at a multi-year base just like gold or miners and is trading in a tight range. The daily chart gives us a better view showing that we are getting close to wanting to break and run to the upside.
Based on the shorter-term charts, we are starting to see precious metals come to life. From a long-term standpoint, we are still trading sideways. We are likely very close to seeing metals and miners become a leading sector.
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Disclaimer: None of this material is meant to be construed as investment advice. It is for education and entertainment purposes only. The video is accurate as of the posting date but may not be accurate in the future.