After Tuesday and Wednesday's nearly identical sell-offs from $33.20 to $31.80, silver has begun to consolidate around $32 overnight and in early COMEX trading.
For an absolutely classic example of algos in control of the market, compare silver's price action on March 27th vs yesterday March 28th below:
Folks, freely traded markets do not EVER trade almost identically on consecutive days, and yet this is literally almost a weekly occurrence in silver and gold.
The same exact algo pattern can be seen in gold as well this week, as again, the chart patterns are nearly identical- although not quite to the extent of the silver charts:
Gold has been consolidating around $1660 for nearly 24 hours now, which seems to have stopped gold's decline for now. Look for even stronger support at the round $1650 should gold head lower, but it appears more likely to drift back towards $1675 throughout the rest of today's trading and into Friday.
Both gold and silver continue to offer excellent buying opportunities, as QE to INFINITY....AND BEYOND!!! continues behind the scenes unabated as $1.5 Trillion annual deficits must be funded somehow, and China, Japan, and Europe sure as heck ain't buying!!