I was going to write something the other day and deleted before I posted, but this brings it up again for me. All of this talk about 'resistance" and "support" is BS. Any "TA" is managed. As Chuck points out, these markets are doing just what the global centralized financial markets are wanting them to do. I run the one minute chart of silver thoughout the day, and it happens over and over. There is a steady rise in the price to a point, followed by an abrupt drop. What do they care if they go short? They are not trading for profit! They're using funny money that will never be repaid. This isn't market and the sooner we all understand this and try to enlighten the masses the sooner it will stop. JPM is nothing more than the broker for the Fed and the UST, and we'll never know because it will be hidden in a veil of "National Security". I even wonder now if "truck load on truck load of buying" will make a difference. Total scam!
