We said last week was our last weekly commentary. Normally, we publish for over 4o other sites that carry our articles. However, this is being confined to subscribers without being disseminated to other sites, and we may not do even this on a consistent weekly basis.
We have been suggesting that PMs will not being going higher, but we did not anticipate the BIS/central bankers “smash down” from last week. Better to get it over with sooner than later, as far as we are concerned. These moves are evidence of the concern by the globalists about losing control over their failing Western financial fiat system.
What we are witnessing are the symptoms of change, a change that will take decades as the globalists switch their control from the financially decimated West to the emerging East, where efforts will be concentrated on a rinse-and-repeat of the last 100+ years of cleaning out as much of the West’s assets as possible.
Now that the 18.50 area has been breached to the downside, the probability of an attempt to attack the 16 area has increased. 17.00 still remains as potential support, but we will have to see how silver responds to what just happened. This is what will make the next week or two important, for how price develops will show either support beginning to develop or a weak response that will lead to yet lower prices.
That the paper market drives the price for vastly undervalued physical silver market is absurd, but it is the clearest evidence of how the markets are rigged and controlled by the elites. Ongoing purchases of physical silver remain a priority as insurance for the certainty of a financial collapse coming, with the uncertainty as to timing prevailing.
The response from Friday is not an obvious stance against a further possible decline, but it is a small indication that buyers were active as Friday’s range overlapped Thursday and did not continue lower as Thursday’s bar did relative to Wednesday [3rd bar from end].