*Update: Big move has materialized exactly at 10am, but the cartel initiated a waterfall decline rather than a vertical spike as occurred Tuesday.
Gold smashed under $1760, and silver under $34 to $33.99!!
Gold and silver again broke higher on today’s COMEX open, and appear to be trading in Tuesday’s HFT algo footprint.
As this appears to be the case, is an .80 vertical move imminent at 10am EST? Look for a move higher in both metals at 10am if this HFT algo remains in control.
Silver is looking ready to make a serious challenge at the $35 level. We have stated repeatedly that once silver decisively clears $35 it should quickly move to $37-$37.50. While it is slightly overbought on the short term and we could see a correction to the $33-$33.50 level, silver can often remain overbought for extended periods during strong bull runs.
Gold also is trading in it’s HFT algo footprint from Tuesday:
Gold should soon challenge the $1800 level, and once $1800 is cleared, will quickly run back to the all-time nominal highs near $1915.