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| Well overnight Silver cut right through the 50dma and hit a high around 4am of 39.5 and since then has been rolling over. Today is the day where the new money gets tested. We'll see how strong the holders are. There isn't really any strong support until 34.5 but I suppose I could make a case for re-entry around 36. |
If it could hold the 50dma it would be really encouraging to build a base around the 40 (for a week) area but I think the banksters have other ideas. Looks like a fear scenario will be created again for the rest of the week. They are going to make it look like a dead cat bounce so the technicians (and Mo-Mo guys) will bail.
You know why you bought the metal don't you, hang on tight. If you are trading paper like I am partially then you have to be nimble. I am going to buy some ZSL at the open just for protection, will sell at above targets.
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