Oh Boy, Silver Tanked Today - Down 2,25%

in #silver9 years ago

Silver had a horrible day today. It fell 2,25% and especially after the Non-Farm Payroll that showed better number than expected. Here is the 15 minute chart:

FireShot Capture 228 - Silver Futures Price - Invest_ - https___www.investing.com_commodities_silver.png

Comment: Here, you can clearly see where the fall started and it never recovered from there.

Lets look at the weekly chart that ended today:

FireShot Capture 229 - Silver Futures Price - Invest_ - https___www.investing.com_commodities_silver.png

Comment: Todays week completed a large red engulfing candlestick. That is clearly negative so most likely silver will fall further during next week.

In other news, First Majestic fell 18% today, I used to own stocks in this company, but I have moved those resources into cryptos instead. That was probably a good move. Nevertheless, I like physical silver and I am trying to accumulate once in a while.

One day, this manipulation will end and then you will want to own some silver.

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