Loading ...… both NUGT and JNUG were in a position for a big pullback … the charts below are as of Thursday …
… as was GLD …
… but SLV and GDX were far less skewed … which would account for better retention in the shares …
… and both are likely to rebound in coming days assuming open interest put / call ratios remain buoyant.
The entire PM complex should bounce at some point … likely followed by the C-wave down to complete an A – B – C corrective affair.
Could take weeks for all this to play out but March is a delivery month for CME silver and registered stocks are low.
This is likely why Friday’s attack on the PM sector was engineered.
Get your physical metals while still possible.
Cheers all