I forgot to mention that open interest (green line) in gold is fading and in silver it is tanking. In my experience (though no expert) that goes hand in hand with what will be a coming contrary buying opportunity in silver that (my opinion) could be epic.
Gold was expected not to be near the end of its improvement trend toward a contrary bullish level. As of Tuesday the 17th it was making moves in that direction with a long way to go (source).
More ominously, silver’s CoT had not yet reached a contrary bullish level either, although it is further along. Silver got creamed before the data were harvested, and that is why it is ominous to me that it was not nuked back to near a no brainer setup. That actually corresponds well with the big picture support breakdown and target noted here and before that, here.
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