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102,500,000 Paper Silver Ounces Dumped on the Market in 7 Minutes!
We are starting to see more strength in silver than arguably ever before. Late last week silver was getting dangerously close to breaking above $35.50 an ounce which would have launched silver to the next major resistance point at $40 an ounce. Notice what happened on February 24th on the chart above.
Notice on the center of the screen how the lines get much larger and red. This occurs when larger amounts of paper contracts are sold. To be specific, 20,500-paper silver contracts were dumped during this short 7-minute sell off. This effectively amounts to 102,500,000 ounces of silver being dumped on the market in less than 10 minutes. This is not a normal thing to see. Notice on both sides of this seven-minute time frame how small the lines are. This is normal trading volume. For 102 million ounces to be suddenly dumped on the market like this strongly indicates that manipulation is taking place.
However, what is incredibly encouraging is that despite the massive sell off silver hardly flinched and still closed the week at slightly over $35.50 an ounce. This indicates that there was likely another large buyer who snapped the contracts as soon as they hit the market. Therefore, silver is in a very good position to move up to touch the $40 an ounce price in the next two to four weeks.
