Has silver bottomed?
At approx 2am EST the Shanghai Gold Exchange announced a 20% hike in Silver margins, and we saw a capitulation sell-off to $26, before silver rallied over 15% in less than 2 hours back to $30.
Those who stayed up late and bought into these lows (provided they could find any physical silver remaining) have already been amply rewarded.
The million dollar question: Has silver now bottomed at $26?
If $26 does not hold a retest, we are headed back to major support at $21.50