My money is on silver dropping in the short term back towards 29... probably starting tonight or tomorrow.
The near term:
The longer term:
Thanks for posting that chart.
Your analysis matches my short term "feeling".
The only question to me is whether or not the dip cometh in 48 hours.
There's a pretty good timing for Friday dip at close and Tuesday dip prior to open.
But, I'm only guessing based upon "feeling" and sensing with my "force" powers.
Still, thank you very much for posting that set of charts!
Let's see what happens on Monday.
Got the real thing and toilet paper from the grocery store, not the kind you get at brokers' offices? I don't know what happened today, as I am maybe a week behind in my readings and trying to catch up to today to ascertain why this is happening. Things are not looking good this fall for Europe. And PIMCO is reallocating a bit more of its capital in gold (don't recall if this is paper gold, but I imagine so). Next month will be exciting, hopefully.
I imagine there's going to be margin calls tonight or in the next few days. I'm behind on my reading, as I had gotten back from Ohio two weeks ago and am trying to get back in the swing of daily life here.
Did you notice certain parties went massively short in the COT? That has me wondering... If that happen and silver drops far enough, I'm going to plan B for as long as silver are at these prices.
I've had hours cut back at work, AND management decides to HIRE more employees at the START of a slow season. That is offensive to me, to hire these people who not only come in to change up everything (stocking super is going to be incensed when he comes back in after being gone for a month), and take away our hours, but fucking STEAL from 5 employees. I'm really upset about this. I'm sticking with plan B as long as prices reach down and my hours remain cut. I'm still hundreds of dollars above minimum income required to keep everything going. I will have a balance of mostly paying obligations off with a substantial (to me) amount of silver buying.
If silver would just take off, then I can get the fuck out of this job and start anew.