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Silver Immediate Support At 2050/40

Published 11/14/2013, 07:04 AM
Updated 05/14/2017, 06:45 AM

Silver went for a test of resistance at 2090 for some profit taking on our longs & topped almost exactly here at 2087. We then retested support at 2055/50 & saw a bounce from here.

A break above 2090 is more likely today & targets 2015, possibly trend line resistance at 2115 to exit any longs. If we continue higher look for a selling opportunity at 2120/25. This should hold the move but any shorts need stops above the 100 day moving average at 2150.

Immediate support is 2050/40 again today but longs need stops below 2035 as a break lower targets 2025 for a buying opportunity.
Silver

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