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 Replies: 2,784 / Views: 88,814 |
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Valued Member
United States
81 Posts |
I am waiting to see what happens with silver inventories, and COMEX interventions. Right now COMEX seems to be able to control the narrative with derivatives based transactions, but ultimately physical supply (or lack of) will become apparent. The first sign may be seeing silver miners moving up substantially and quickly as people who actually need silver bypass COMEX and go straight to the miners for suypply.
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Pillar of the Community
United States
1126 Posts |
Quote:
I am waiting to see what happens with silver inventories, and COMEX interventions. Right now COMEX seems to be able to control the narrative with derivatives based transactions, but ultimately physical supply (or lack of) will become apparent.  Yep all they did to meet the March contracts was claim some sort of glitch occurred, used it as an excuse to "reduce" (cancelling) a number of buy contracts to just under what was promised for delivery. Pulled a rabbit out of a hat. And then kicked the can down the road into May. Since then there's been some juggling with the numbers and reports of arbitrage transfer's to meet demand in Asia. It's all just them buying more time, as well as pulling out every trick in the book, before the paper scam blows up in their faces. Edited by Harry213
03/24/2026 12:13 pm
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Pillar of the Community
United States
1126 Posts |
Afternoon and the Dollar is still pulsing upwards. Crude Oil is still hanging in there. Silver may just have to wait for something to happen, for one more night, or more   |
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Moderator
 United States
189340 Posts |
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Silver may just have to wait for something to happen, for one more night, or more  |
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Pillar of the Community
United States
1126 Posts |
Kind of weird how both Oil and the Dollar both started falling in sync right after the regular market closed eh? Oh well, I'm not complaining, Silver and Gold started climbing right after that. Silver hit $74.50 at around 9pm  Some chopping around overnight between $71 and $75 would be a good sign to confirm $70 as support. |
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Pillar of the Community
United States
1126 Posts |
The May futures contracts for light crude dropped last night to under $90 a barrel. For now that is. But at least it's a step in the right direction. The Dollar dipped as well, though it's tried bouncing back overnight. Watch that it continues to weaken and doesn't surge over yesterday's high. Silver and Gold both retreat whenever Dollar spikes towards 100. If the Dollar could somehow fall back below 98 it would break the current uptrend and send a signal for Silver to make a break for it and run up towards $80 and at least hold the next support level at around $75.6 if I remember correctly. This will be the dance, for now, with Oil and Dollar leading the moves. |
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Moderator
United States
189340 Posts |
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Pillar of the Community
United States
1126 Posts |
Nice Silver finally made it through the the top layer of the ice cream sandwich or Oreo cookie (whatever your prefer) of support.. $71 the floor, $70 the void, $69 the ceiling, last line of defense before falling through to $65. On the way up it should be $74 ceiling, $75 void, $76 floor. Dollar at around 99.50 close to yesterday's high so be ready. May light crude futures around $88.50 with $90 now acting like ceiling, hopefully it keeps getting rejected and drops more |
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Moderator
United States
189340 Posts |
Quote:
Nice Silver finally made it through the the top layer of the ice cream sandwich or Oreo cookie (whatever your prefer) of support..  Quote:
$71 the floor, $70 the void, $69 the ceiling, last line of defense before falling through to $65.  Quote:
On the way up it should be $74 ceiling, $75 void, $76 floor.  |
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Pillar of the Community
United States
1126 Posts |
With an hour left and oil hanging on to $90 while the Dollar treads water. It's going to be interesting to see if any more whales and institutions close their positions at the close of trading, like they did yesterday.
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Moderator
United States
189340 Posts |
Hovering just above $71. |
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Pillar of the Community
United States
1126 Posts |
Oh well. Not today, Oil and Dollar both closed strong and climbing back towards their highs after the close. Putting downward pressure on Silver to start the night. The tango continues. |
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Moderator
United States
189340 Posts |
Tomorrow the battle continues.  |
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Bedrock of the Community
United States
10595 Posts |
Kind of a boring morning - Gold hanging around $4450, Silver falling below $70, and Oil creeping slowly above $93...........
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Pillar of the Community
United States
1126 Posts |
At this point it should be self explanatory but I'll bore y'all with it anyway. Silver closed under pressure yesterday, sitting on the floor at $71. Oil and Dollar closed strong and continued marching higher into the night. Wrong direction guy's. Silver eventually gets pushed through the $70 support and back down under the $69 ceiling. Simple. Fortunately for me trading through this I've been able to profit both ways using leverage in the form of Options trading. Yesterday I sold my Calls for $73 that I bought at $68-$70. This morning my Puts will be in the Green because Silver went down. I'll wait for bottom and sell those for profit and go back into Call's. Rinse and repeat. Using Options those $3-$4 moves translate into $300-$400 profits, on the way up AND on the way down.  Please don't hate me, I don't make the market go Up or Down. I'm just one of the guy's that stalks, watches and tries to figure it out and make money from it using charts.  |
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Posted 03/24/2026 12:03 pm
