Ngl watching the tape today felt pretty heavy with gold dumping 1.4% and silver eating a nasty 2.5% haircut into the settle. That’s three red sessions out of the last four for silver now, and gold is struggling to hold onto bids every time it tries to bounce. I was watching the lower boundary of our recent consolidation range expecting some aggressive buyers to step in, but the order flow completely rolled over into the close.
Are you guys seeing any real absorption on the footprint charts, or is this just pure long liquidation flushing out late breakout traders? Silver especially looks vulnerable right now, and if yields or the DXY catch any more momentum, I feel like we might slice right through this local support shelf without even pausing.
Where are you guys mapping out the next major demand zone to scalp a bounce, or are we just sitting on hands until the lows get fully swept?
Are you guys seeing any real absorption on the footprint charts, or is this just pure long liquidation flushing out late breakout traders? Silver especially looks vulnerable right now, and if yields or the DXY catch any more momentum, I feel like we might slice right through this local support shelf without even pausing.
Where are you guys mapping out the next major demand zone to scalp a bounce, or are we just sitting on hands until the lows get fully swept?
