Absolutely classic smash in silver, as the 2nd wave of the pre-FOMC statement take-down has driven silver under strong support at $30 to $29.87.
If silver cannot regain $30 and hold above it through today’s close, we are looking at a retest of $28-$28.50.
An absolutely massive volume spike on spot silver’s volume chart as 9,000 contracts were dumped in 10 minutes to induce the spike low to $29.87.
9,000 contracts (45 million ounces) were dumped on the market in 10 minutes from 12:20 to 12:30 pm inducing the spike low to $29.87:
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