Silver FuturesLong
Today was "THEE" tell-Silver's Artificial Price Cap Ineffective
After a 2 week rally in the DXY, silver, and even more so, gold price were nearly unaffected.
As i suspected last night, mild weakness in the DXY could trigger a massive move in silver - this suggests the artificial suppression of the metal via the futures market is being overwhelmed by worldwide physical purchases, likely leading to a short squeeze if my prediction played out. Follow through on Monday will likely confirm this and is a huge bullish signal.
After just a 1/3 of a percent drop in the DXY as it hit its head on the 200DMA, bullion banks could not touch silver, suggesting a failed attempt to suppress price and potential short squeeze underway.
I am looking for 40$ silver within the next 3 weeks of a DXY decline, possibly into a left translated DCL
Please watch for more details
As i suspected last night, mild weakness in the DXY could trigger a massive move in silver - this suggests the artificial suppression of the metal via the futures market is being overwhelmed by worldwide physical purchases, likely leading to a short squeeze if my prediction played out. Follow through on Monday will likely confirm this and is a huge bullish signal.
After just a 1/3 of a percent drop in the DXY as it hit its head on the 200DMA, bullion banks could not touch silver, suggesting a failed attempt to suppress price and potential short squeeze underway.
I am looking for 40$ silver within the next 3 weeks of a DXY decline, possibly into a left translated DCL
Please watch for more details
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.