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SILVER - Weekly Report 6/5/2013
Silver dipped sharply on Friday, however rebounded again after testing the support of the ascending channel shown above. Accordingly, the short term bullish bias is still favored, target mainly 25.00 level, where only a clear break and stability below the channel’s support negates the potential bullish scenario.
Based on the charts and explanations above, we prefer to long silver above 23.90 targeting 24.90 and 25.50. Stop loss below 23.40
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