Loading ...My heart is broken (added the 16$ hope scenario + gold)
They are killing silver !!!
Talk about from hero to zero…
Also.. wonder what the cot will look like… especially next week with today’s data.
Edit: adding rules applied to recent past…
Edit: this is next important test for silver… next month.. if it closes with a wick deep below 16.. but closes green above… could be hope!
Edit: adding lines in the sand for gold… honestly… not looking too bad amidst the carnage.
This too shall pass.
Never Ever be complacent in the Silver market.
Down 7.5% so far today
Bob is a maniac
Someone discovered silver transmits the cerveza virus
When the last Silver Bull is crushed, the market will turn on a silver dime.
The battle is lost, but not the war. Take heart, my friend. We live to fight another day.
Thanks for this. Yes, it does not look good at all. Convenient timing too.
Silver didn’t do anything at all between 1980 and 2003. Yes it moved in a decent range, but nothing on the scale of 1979 and 2010.
Maybe it’s got another 10 years to stew in a range.
Has it actually printed a close as of the time of the chart?
Nope… we have to wait for 18:00 EST. It’s really fighting to stay right above… now at 16.66. 3h15 minutes to go before close. I give more value to this if a real solid close below the 12 month sma. But… this just doesn’t look good… even if it closes slightly above… as it’s still closing below 17$.. which will become another “wall” (previous support turned resistance). I’m gonna close my computer for a week and enjoy the silent beauty of being 100% cash.
and also based on the size of that candle you would think we need to make a lower low in a future month. No traders are going to want to buy without a swing low in place
Maybe the FOMC will produce a double reversal in silver next month. That would obviously be something incredible, but it is shear fantasy at this point.