RUMORS OF HIGHER INTEREST RATES SEND COMMODITIES LOWER!
That is what I heard on CNBC today. This shows how much of a paper ponzi scheme this is and why silver and gold is such a great investment. I think can make it to the $26.00 level but if you want to start buying again on the dips, then here we go. Higher interest rates will just keep on ensuring that debt gets filled to high degrees. Any interest rates ensure debt and there is nothing you can do on paper to reduce the value of the silver market. I still kinda hope they can bring this down to $20 before we have the price explosion because I wouldn't mind getting more at these firesale prices. However, all that aside, this gives us reason to state that this $31.40 was successful fibonacci resistance as it got to $31.28 earlier this year and the current head and shoulders is a break. The VWAP (volume average price) in the photo from August is rising and is shortly over $26/oz. I would expect that to be support. However, it is in your best interest to remember that it is the big world banks that are the market makers.