There was a remarkable change in the dynamics controlling the silver market, indicating much higher prices to come...
by Steve St Angelo of SRSrocco Report
Something quite interesting took place in the silver market last week. There was a remarkable change in the dynamics controlling the silver market, indicating much higher prices to come. In my newest video update, I explain the positive changes not seen since silver was racing up towards $50 in 2010-2011.
In my last video update, I stated that the silver price on the monthly chart needed to close on July 31st, above the $21 level, to remain in a BULL MARKET. Not only did it close above $21, but it also closed near the highs of the day at $24.50. However, there was a great deal of trading volatility, especially on Tuesday, when silver fell almost $4 in just a few hours.
I believe this huge $4 correction in just a few hours was likely initiated by Big Traders (Bullion Banks) to liquidate a portion of their short positions as the silver price was getting out of hand. The evidence to prove this was shown in the new Silver COT Report, which reported a substantial decrease in the Commercial Net Short positions.
I explain what took place in my newest video, Something Amazing Happened In The Silver Market, and why I now see the silver price continuing to move higher in August:
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