RE: Silver: Nearing Cascade Level

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Silver: Nearing Cascade Level

in money •  8 years ago 

Your weekly chart analysis looks good tho I've dropped my lower trendline to the 5/9 turnaround just over $16.00.

Nevertheless the COMEX/banksters just might have a more compelling reason to maintain this $16.00 floor - namely the COST for the miners to extract the ore. The cost of production depends on diesel, water, labor and factors that aren't getting any cheaper. And now the FED raised rates, reducing liquidity. The corporate controllers NEED silver for their tech, solar, & medical products that they can't do without crashing the economy completely. It's a balancing act (so far) and a great opportunity to back up the truck whenever we get these dips.

I am convinced that they're algos are running out of room to manipulate this market, est. now that the Shanghai market reputedly settles in physical metal rather than COMEX's fiat paper. When this unravels, expect a parabolic spike that'll make Bitcoin's look like an anthill! Just my 2¢ worth! 😉

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Totally agree! Thank you for the thoughtful comment!!

Thanks for putting up with my POV... Keeping an eyeball on sinking silver this next week & hoping I can catch a strong turn UP!