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Endeavour Silver Corp. Message Board

  • crazy1090631 crazy1090631 Jan 11, 2013 10:36 AM Flag

    The only reason for the down silver and gold prices today is manipulation to dump more

    shorts by JPM and company. The macd and rsi all flashing buy.

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    • We are having a reverse currency reaction and it's relationship to gold. Europe believes that their currency will rise this year, so all banks in Europe sold some gold. If so, it also means that that the US dollar WILL DROP. Europe's actions can be seen in rates settlements that were firmed a little early in Europe. Europe is still short on cash, so they needed to sell gold to support their currency. Gold is values in US dollars and this is just driving by Europe with their brakes on. Europe sees a chance to up value their currencies because of US debt problems, not so much on internal conditions. Markets in Europe will close soon, and we should see less stream.

      Prices just under 10059, the 23.6% Fibonacci retracement. Sellers challenged the 38.2% level at 9998, with a push below that targeting rising channel support at 9963. The 10059 level has been recast as resistance. A doubtful reversal back above that sees channel top resistance at 10133.

 
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