Rabbit circling its hole
Indeed JD. I saw Ag dive when markets first opened, into the area below the lowest subband 23.3 - 23.4 but did not stay long, bounced briefly on 23.3 from below then reentered A where it wiggled in the lowest subband for a while, then silver changed to positive not too long after open (all of above in first couple hours), spent 10 or 15 minutes recrossing out of the lowest subband (i.e. moving above 23.4) before a rapid rise to test the exit from the lower subbands (23.8) held there for a while then quickly moved to touch base of the upper subbands (24.3) and appears to have mostly held that ground in upper part of the middle ground through the overnight and on to now (although it is appearing to move toward more retest of entry to the upper subbands at the moment).
To recap briefly last week, the first couple days saw Ag move first below (exceedingly briefly) the A band move to the middle ground in A and then spike to 25.12 above A equally briefly, then settle to the middle ground toward the upside (upper subbands from below), midweek to end it drifted in middle ground toward lower subbancs (pushing toward 24.4 from above) and then once on Friday penetrated the lowest subband to reach 23.31
We need to see how the early open test to below A this morning gets offset / balanced out. That could indicate a takedown after time getting buyers on board in the A range. I tend to doubt that reading. Tests of resistance to moving the price when the US is not very active are something to put a bit of weight on however. All the same, things so far are shaping up much like last week. We will see . . . test to below A is in, which is how last week started off, but silver has not yet entered upper subbands (just bounced on their base) yet which is where last week went next.
Are you starting to see the frequency of the .3, .4, .7 and .8 ?
