The Battle At The Bridge - Gold and Silver

The Battle at the Bridge.
Gold trading at $1405.

How many of you recall the cult movie classic, "Monty Python and the
Holy Grail."

Jim

Jim,

Silver will lead, so I am watching it closely. When once resistance becomes support, it will confirm Three Taps and Out of the 2001 upper trading channel resistance. As I have said before, when resistance becomes support, the gloves come off at the battle at the bridge.

Silver ETF (SLV):


JP Morgan has been reading the message(s) from the silver market.

Headline: JPMorgan cuts back on US silver futures

JPMorgan has quietly reduced a large position in the US silver futures market which had been at the centre of a controversy about its impact on global prices for the precious metal.

The decision by JPMorgan was an attempt to deflect public criticism of the bank’s dealings in silver, a person familiar with the matter said. The person added that the bank’s position in silver would from now on be “materially smaller” than in the past.

Source: ft.com