$27 Handle in Silver As Algos Tip off Monday Sell-Off

27Friday’s strange algo patterns in the gold and silver charts apparently were tipping off the upcoming silver raid, as silver traded exactly down Monday morning to the $27.88 spike low seen on several silver feeds last Friday when global markets were closed.

The cartel appears intent on forcing a re-test of crucial support at $26 in silver- the question is at what cost in the physical market as a massive shortage of 90%, Silver Eagles, and Silver Maples grows? (and will undoubtedly intensify on any visits back towards $26)

Silver was smashed back to a $27 handle during Asian trading (prior to the LBMA open), with concerted selling beginning again this morning in NY:



Gold remains capped under $1600:


While the bottom still appears to be in for gold, the same can not be said yet for silver as its 4 week range trade between $28.40-$29.50 has been breached to the downside.   $26-$26.50 will be absolutely crucial support for silver (and the cartel knows this, which is why they are attempting to force the issue), as if the quadruple bottom can be breached at $26, a brief wash-out trip down to $22 and back is possible (likely resulting in a complete vaporization of the physical bullion silver market, ala 2008).