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Technical Forecast for Silver

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Technical Forecast for Silver
Silver retested 20.16 & broke lower. This level is now acting as resistance & if we hold below here we should eventually test good support at 19.88/78 for a short term buying opportunity with stops below 19.65.
 
Above 20.20 is more positive & could see a move towards 20.35/45. If we continue higher look for a retest of 20.50/60 highs with strong Fibonacci resistance just above at 20.75/85 for a selling opportunity.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Commodities Markets Trading Ideas

 

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