Silver Eager to Settle a Score

The Morning Line [Published Sunday, May 19, at 7:30 p.m. EDT]( Silver Eager to Settle a Score The white-collar thieves who manipulate bullion quotes appear to be losing their grip. Silver bulls in particular have long wondered how prices could languish even when demand for physical appeared to overwhelm dealer supplies. Blame paper proxies for precious metals, since many if not most investors would rather store and swap the stuff in virtual form than pay to insure it in a rented vault. Bullion bankers love it that way, since they can sit on actual bars and ingots, loaning them at interest, while everyone else trades up a storm of near-gold and near-silver pledges and IOUs. However, the steep price rise lately has threatened to upend this arrangement by increasing demand for actual bullion. Ordinarily, the thieves, a sleazy cabal that includes some of the largest banks in the world, have relied on 'Mr Slammy' to rescue them. He appears on the scene whenever they pull their bids and let prices plunge to relative bargain levels. Within the last month, we've seen downdrafts in gold of $80 and $130 respectively, and similar moves in silver, in the space of just a few days. Unfortunately for the scoundrels, prices have rebounded too quickly in each instance to allow them to replenish their doubly hocked inventories on-the-cheap. B of A Massively Short Now it looks like they're about to get creamed. Last week, July Silver broke out on the weekly chart with enough force to imply it will reach a minimum $37 an ounce. That would represent a 16% move on top of the already spectacular 28% gain achieved since late March. The chart would seem to allow little respite for bullion bankers. If any of you ass-bandits are reading this, the 'hidden' resistance at 32.419 shown in the chart could be your only chance to get 'em back below $37. (Note: Just one bank, Bank of America, is short a reported one billion ounces). Gold's chart differs significantly and suggests bulls could struggle at $2489, basis the June Comex contract. That is just $69, or 2.3%, above Friday's settlement price. Please be aware that if June Gold hits that 'Hidden Pivot' at the same time July Silver touches 32.42, it could spell trouble for bulls. However, my hunch is that silver's more bullish chart will prevail, and that gold will enjoy further gains comparable to Silver's expected 16%. That would put June Gold at $2807, exactly $388 above Friday's settlement price. [Although gold stocks can be bought and held for the long-term, silver stocks are different. [Click here]( to find out why. You'll receive a free, two-week trial subscription to Rick's Picks that includes access to two of the best chat rooms in the trading world. No credit card is necessary. And for my thoughts on why AI is grossly overrated, [click here]( for an interview I did on Friday with Howe Street's Jim Goddard.] [View Post on the Rick's Picks WebsiteÂ]( Here's How to Jump In... Not sure of the best way to get started? Follow these simple steps to become a consistently profitable trader. Step #1Learn The Basics for FREE! [Impulse Leg Toolkit]( ... [Butterfly Spread Strategy]( [Fundamentals of the Hidden Pivot]( Step #2 Get Rick's Trade Recommendations [Free, Timely Touts]( [Free Trial Subscription]( [Select a Subscription Plan]( Step #3Learn to Use the Hidden Pivot System Yourself [Fundamentals]( ['Mechanical' Trade Set-Ups]( [']( Trade Set-Ups]( [The Basics, Plus All Six Trade Set-Ups]( [Start A Free Two-Week Subscription]( Copyright © 2019+ Hidden Pivot Enterprises, All rights reserved. Disclaimer - This email is for information purposes only and should not be considered personalized advice or a solicitation to buy or sell any securities.   [Unsubscribe]( Rick's Picks - Hidden Pivot Enterprises PO Box 270646 Louisville, Colorado 80027 United States