This video features an interview with Michael Oliver, a veteran commodities expert, who revises his previous price targets for silver upwards significantly, projecting a rise to $100-$200 per ounce. He discusses the technical indicators supporting this forecast, analyzes the gold market, precious metals mining stocks, oil, agriculture, and the broader stock market, offering insights into potential investment opportunities and market trends.
Michael Oliver mentions using "momentum based technical analysis" and "momentum structural analysis." He specifically refers to analyzing silver on an arithmetic chart going back to 1975 and comparing its price action to that of copper and lead, noting their historical patterns of breaking out of long-term ranges. He also discusses a "trigger level" that, when breached, is expected to propel silver to $100-$200 per ounce over the following two quarters. Additionally, he highlights the importance of monitoring week-to-week momentum and other technical factors beyond just price.
Michael Oliver views the silver miners as being significantly undervalued and having more potential for upside ("bang for the buck") compared to silver itself. He notes that they are historically very lagged, not only to gold miners but also to gold.
He points out that while gold miners (like GDX) have already broken through their 2011 highs after a pullback, silver miners (like SIL) have not yet reached their 2011 highs. This suggests to him that silver miners have a substantial amount of ground to cover and are in a similar, undervalued position to silver itself, essentially being "underground" and not yet priced at their per-ounce value. He believes the entire pack of silver miners is poised to go up due to a broad influx of money into an underpriced category.
