Euro bulls increase, silver bulls cash in

The speculative long silver traders are exiting the market in the midst of the short squeeze. However, according to the LBMA website, silver remains in backwardation, though much less as of today.

The euro is starting to look more interesting with U.S. dollar index is right at its lower trend line and the euro nearing its upper trend line. There are a lot of speculative longs here and a reversal could be quite strong.

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