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According to NetDania’s volume (which approximates volume from 5 separate sources and is not an exact indicator of volume data) 38,400 contracts, or 191.99 million ounces of paper silver (nearly a quarter of annual global silver production!) were dumped on the market in only 10 minutes between 8:30 and 8:40am EST upon the release of the NFP data.
Screen shot of the paper dump (with 3rd wave of attack in progress) below:
$31 has just been penetrated in the 3rd wave of the cartel attack, but price has quickly rebounded from $30.91 to $31.25.
*Update: Paper dumping has commenced again, with silver smashed back under $31 with a last of $30.77. Expect support to emerge near $30-$30.50.
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Screen shot of the paper dump (with 3rd wave of attack in progress) below:
$31 has just been penetrated in the 3rd wave of the cartel attack, but price has quickly rebounded from $30.91 to $31.25.
*Update: Paper dumping has commenced again, with silver smashed back under $31 with a last of $30.77. Expect support to emerge near $30-$30.50.
Check out these similar articles:
- Silver Smashed to $33.50 As 50% of US Annual Silver Production Dumped on Market in 5 Minutes
- Cartel Dumps 1.5 x US Annual Silver Production on Futures Market in 5 Minutes on NFP Release
- Were 500 MILLION Ounces of Paper Silver Just Dumped on the COMEX in 1 Hour?
- Cartel Dumped 2x Annual US Silver Production on Market in 15 Min to Smash Silver Under $35
- Gold & Silver Smashed on NFP Release- 2nd Wave of Raid in Progress
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