Silver Prices: Retail Traders May be Losing Battle

February 2, 2021

silver coin

Silver is under attack, and prices are back below the $27.00 level. Yesterday’s gap higher was closed, and prices are backtesting the intermediate trendline. What happens next is crucial!

  • A close below $26.00 would establish a false breakout and bearish reversal (favorite trick of manipulators). In this scenario, silver could collapse back towards $22.00, possibly lower. 
  • To reverse today’s institutional attack, retail traders need to push futures back above $29.00 before Friday


GameStop is down over 60% and decisively below the $100 level. 


Prices are down over 50% and could reach support near $5.00 as soon as today. 

On a positive note, bellwether Newmont Mining is diverging bullishly. 


Newmont is rallying despite sharply lower gold and silver prices. A close above last Friday’s high ($61.50) would be bullish and support higher metal prices next week. 

Note: The buying of physical precious metals is exploding and could have a bullish lag of one to two weeks.

How metals and miners respond after Friday’s employment report key. 


Man has had the ability to separate silver from lead for as far back as 4000 B.C.

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