With paper claims in the metals markets now at unfathomable levels, today King World News is pleased to share some surprising news in the war in the silver market.
The following charts are from Jason Goepfert at SentimenTrader.
King World News note: Below you can see the commercial hedgers most recent position in the silver market. Note that commercial hedgers have recently covered many of their short positions on the recent decline in silver (see 10-year chart below).
King World News note: For a few years sentiment in the silver market overall has been at one of the most excessively pessimistic levels in history. Again, this is the type of thing you would expect to see at the end of a cyclical bear phase that is culminating inside of a secular bull market (see 10-year chart below).
King World News note: It will be interesting to see how silver trades the rest of the year and into the new year.
These charts are just a portion of one of the latest fantastic reports. To try a free 14-day trial of the internationally acclaimed work that Jason Goepfert produces at SentimenTrader simply CLICK HERE.
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***ALSO JUST RELEASED: An Important Update On The War In The Gold Market CLICK HERE.