Peter Brandt: Silver falls below $55 support as margin call selling accelerates

Peter Brandt: Silver falls below $55 support as margin call selling accelerates
Silver drops below $55 on margin calls

Silver dropped below the $55 support level amid increased margin call selling, according to Peter Brandt, founder and CEO of Factor LLC.

Brandt stated that the decline is linked to those who bought silver above $100 and had claimed there was a supply shortage in China. He also highlighted that the lower boundary of a possible wedge may provide support for the metal.

Brandt previously reported that members of TheFactorReport service were alerted to an upcoming move in Brent North Sea Crude prices. He also recently disclosed a $15 gain in ZMZ26 and a 6 cent loss in ZCZ26, referencing his background in grain trading in a trading results update. These earlier reports reflect his ongoing coverage of commodities markets.

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