Another day another waterfall decline for silver as the metal just dropped 70 vertically to $30.37 as 90 million ounces of paper silver were dumped on the market as the cartel attempts to induce a $20 handle for silver.
*Update: 2nd wave in progress as cartel pushes for $29 handle in silver, 4 year uptrend line since 2008 at $30.50 has been broken to the downside.
Latest vertical smash in silver:
After 3 attempts, the cartel has finally pierced stubborn support at $30.50 and the 2nd leg of the raid appears to be getting underway:
And the 2nd wave attempting to induce a $29 handle:
Meanwhile, the HFT algos have been gunning gold away from strong support at $1650 towards $1630:
Stack the smack!!