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!
GAMESTOP CHART (GME): GameStop is down over 60% and decisively below the $100 level.
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AMC ENTERTAINMENT (AMC): Prices are down over 50% and could reach support near $5.00 as soon as today.
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On a positive note, bellwether Newmont Mining is diverging bullishly.
NEM- 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.
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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.
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