The COMEX is in backwardation 12 months out and there are physical silver shortages around the world. The COMEX has over allocated their silver stores by a ratio of 3 to 1 and have been settling in cash with those that will take it. In essence they are in default and the only thing holding silver down is the paper naked short bankers. They too will go up in flames again shortly like last year. The fundamentals trump charting by any means right now. Plus, I havent even gotten into the LBMA's supply shortages which is in default also. I would not want to be short a security that one would be trapped in until the U.S. market opens if the LBMA went bust overnight.
I will get long 25 contracts at 30.50 - thats 25,000 ounces for you beginners that know nothing about futures trading.
Sorry I responded to your post xero90 - I dont intend on insulting you as you trade with logic. I will be around to humiliate these bears as they arent informed and think that charting is defacto to investing.
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