Are Retail Traders Losing Battle In Silver

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. 

Disclosure: None.

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