"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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Silver ends week on a Powerful Note
There really is not much that can be said in addition to what this price chart is telling us.
Note that the metal held solid support and moved along sideways refusing to drop sharply lower. That indicates a great deal of dip buying was occuring which prevented the shorts from pressing it lower. The result - the shorts had to run when they could not generate any downside action of signficance.
One thing to note is that the volume on the move up and beyond $35 was enormous. That is strongly bullish.
Also see how the price is hugging the center line drawn which is serving as a type of resistance zone but also as a magnet.
Tiger-Cat ;
ReplyDeleteIf you want to consider posting here at the site, please clean up your language. I do not want that kind of vulgar slang being used here.
Dan
My bad, Dan. Lost my head for minute.
ReplyDelete