This is all because of the FED and interest rates.
When interest rates get cut the dollar weakens. When interest rates increase or stay the same the dollar strengthens.
This is one of the ways they have the algo set up with SLV.
So a few days ago Jerome Powell said interest rates will not be cut. Then POW the dollar soars and the metals die.
Now today the jobs report comes out and its shitty. Which implies that there many be rate cuts and the dollar crashes. The metals pop.
The federal reserve and these tiny hat people have way too much control over the economy. There is nothing natural about the way the markets are behaving. They are 100% dependent on the FED.
Plus they took advantage of the Feds interest rate hold and dumped SLV into the market as well. You know, the metals are crashing because of the FED so nobody will know the difference anyways:
Gotta get that open interest curve down.........UGH.
Between Blackrock owning SLV, JPMorgan managing it, The Fed running the worlds currencies and the bankers computer algos............We don't stand a chance.