Diggin’ around COT data… focus on commercials…

The range was tight back in the 2010-11 run for silver. 23k net commercial position range for a price increase of 143%

Our latest rally has net gains of 25%, but a range of 96k net commercial positions… hedger’s wayyy more volatile. Is it when they quiet down that Silver gets to fly free?

Right now, I see no correlation or explanation… maybe just wasting my cpu cycles…