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S W
Member since May 2012
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Silver Market Update

- Clive Maund -

Ok the COT is at its most bullish ever.
Commercials have decreased their net short position, but, they are still short.
Why cant they push the market lower?
Supposedly they have done it previously.
Would they not want to be flat before stepping in to get long?

Do not jump the gun on this trade. Wait till direction is determined with a close either >3288 or <2980 on a daily chart. Right now its 20 days in that range! Volatility is narrowing and i expect a very strong move either way after the close possibles above.

Thats my 2 bobs worth anyway.
SW

Commented 4701 days ago

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Beginning of the headline : Silver did what was expected of it last week, by reacting back to support in the $33.50 area, although it very briefly touched $32 intraday on Tuesday, and then, also as expected it bounced back.On the 4-month chart the action last week looks like a normalreaction, that may be a bull Flag, within a young uptrend that was signalled by the clear break above important resistance in the $33 area, which marked the top of the now completed intermediate base pattern... Read More

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