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The lower right chart reflects the most recent COT numbers, reflecting that smart money traders have accumulated a very large long position in Silver. Why do I say smart money? Only due to the fact that other times they took this position Silver rallied.
The upper left chart reflects that Silver Monthly is on a 10-year support line with a small bounce taking place of late.
Metals members were informed that the Gold Bugs index (HUI) created a very large bullish wick last week at a 13-year support line and a possible bullish inverse head & shoulders could be in play!
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