Looks like silver is moving up today. I wonder if we will get over $36 before the close?
What do you guys think?
It is gonna be tough. We have bounced off 36 on Wednesday so not sure if we can close over it. I don't expect much volatility now that it is the weekend.
I think TPTB have a real bug in their ass about $36 and if it gets too close they'll be sure to whack it down.
They'll let it close over $36 and then massacre it when the market opens Sunday.
I'd love to be wrong.
PSLV serves as a pretty accurate proxy for future moves in Silver. Sometimes moves in PSLV get ahead of spot Silver and vice-versa. Today PSLV had a very strong 2.43% move higher which should reflect at some given time an 87 cent move higher in Spot Silver. If we back out Silver's roughly 35 cent move today it would mean there is 50 cents yet to come all things being equal. Just a rough guide for the future price and something to pay attention to, nothing more.
It's beer time.......Have a great weekend everybody!
I think silver is still warming up for the big move. Here is Dan Norcini's take:
The great Jim Sinclair vouches for Dan's analysis. That's enough for me!