Tuesday, August 23, 2011

Cartel Taking Silver to the Woodshed...Back Below $42

Silver Has Been
Naughty Lately

We warned you last night that the cartel can read a chart as well as we can.
With silver threatening to breakout and run back to all-time highs near $50, Blythe and friends have absolutely unloaded on silver this afternoon, driving silver over $2.50 lower from last night's highs over $44.50 down below $42!

Strong support should surface near $41.50, as this level was strong previous resistance.  Should silver break $41.50, it is likely to retest $40, where even stronger support should be found.

As always, BTFD!

Live 24 hours silver chart [ Kitco Inc. ]