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Silver: Moves Back To Upside Around 17.93

Published 01/27/2015, 05:03 AM
Updated 07/09/2023, 06:31 AM

Silver Daily Chart

The metal dropped to touch levels close to Linear Regression Indicator 55, and approached the support 17.43 and failed to break it, then moved back to the upside around 17.93. The referred to 17.93 represents 50% correction as showing on graph, and holding above it brings positivity back. Trading above the latter isn't confirmed yet, which forces us to move to the sidelines to confirm stabilizing above the referred to level or failing to do so.

From the upside, a break above 18.21 brings positivity back, while trading below the support 17.70 makes it possible to rethink moving back to negativity.

Silver Support And Resistance

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