Loading ...ATTENTION SILVER WATCHERS
It seems to have escaped us that TOMORROW will be perhaps THE singular most important trading day
In Silvers Lifetime !
A bold Statement perhaps BUT
Tomorrow is Month End
Silver is on the precipice of what could be a fatal drop
It NEEDS to close on this monthly Chart …NO LOWER than Where it is.
This Monthly Chart is saying a drop and close below the line tomorrow implies this was a half way pattern
The PO is Unspeakable
Bob ? Bob ! BOB!!!!!
I can’t wait! I may not be able to walk into a McDonald’s but I damn sure will get my 1oz round with my happy meal in the drive thru.
Paper gold price going down. Physical price going up. Something will break hopefully, I hope Fully !!
silver had an inside week last week which is usually a continuation pattern
https://stockcharts.com/h-sc/ui?s=$SILVER&p=W&yr=3&mn=11&dy=0&id=p52545037103&a=364069979&listNum=61
Also a quarterly close!
aha
Silver hanging in wire.. really cutting it close. Hopefully strong start next month… wait.. thats tommorow!
Silver has been in backwardation for 2 weeks now.
Backwardation:
“…….. Backwardation happens when there is a shortage of a commodity, usually from seasonal factors like prior to a harvest. It is quickly resolved through arbitrage or an increase in supply.”
From what I can tell un-presold phys silver supply is expected to come on line (based on several on-line website’s commitments for delivery) sometime after mid-June. The $12-$14 futures contracts over the past 2 weeks I don’t think are going to be resolved through increased supply (for the volume months they are contracted for), thus leaving us with arbitrage (which should happen quickly IMO). I guess the question is, how far out (past June) might physical silver be sold out before the market gives up on a ‘supply’ resolution instead of simple arbitrage. I’m no commodities trader or know much at all about it, but I could guess that silver spot is under increasing pressure to rise sharply. Taking also into consideration the GSR – silver’s downside is limited in large part because of it’s distance from gold. IMO the resolution is going to be violent (upward) and take the fewest hands with it. GLTA. I surely welcome any comments that may counter this notion as I’m very a much a novice on the topic.