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Silver Rally: Is It Ready for Primetime?

Silver is once again garnering attention as it traded through the $17 per ounce barrier this week.

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Silver Market May be Embarking on Important Price Rally

The silver market appears to have broken upward through important resistance at $15 per ounce on the weekly and monthly charts, closing at $15.73 per troy ounce for the trading month of May 2009. On both charts, it appears silver could reach as high as the $17-$20 range, with a potential blow-off top potentially reaching the old 1980 high range at $32-$42 per ounce. This may occur in the next one to two years, perhaps much sooner.

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