by AGXIIK, Silver Doctors:
The Whole System Can Blow!”
In This Week’s Metals and Markets, Doc & Dubin Break Down the Golden Sombrero, & The Mechanics of a Major Gold and Silver Price Raid-
Is the Trading Action Signalling a Small Correction Followed By Another BIG MOVE Higher, Or Are We Witnessing the Early Stages of a MASSIVE Raid That is Just Getting Underway?
There’s never a dull moment in the precious metals market. After last week’s show, we saw a flash raid on Monday, with silver taking the brunt of the assault, by design.
But the snap-back that followed was truly impressive, and a continuation of this same, ongoing pattern of both paper and physical buyers remaining in an accumulation mode, buying the dips. Meanwhile, take a look at what oil and the S&P 500 were doing over the course of this past trading week:
While it’s not wise to draw too fine a point here based on just a single week of trading data, it is nevertheless interesting to point out that when silver led precious metals down on Monday with help from our friends, oil and the S&P 500, US benchmark for large capitalization equities, were both pushed higher in an attempt to recapture their respective 50 day moving averages and stem the previous week’s blood letting. By Tuesday, it was back to the bleeding, and precious metals responded accordingly.
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