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  • SILVER - Weekly Report



    Short Term trend: Bearish
    Weekly Bias: Sideways

    Despite the bullish bounce silver remains weak, as price continues to move sideways below 20.10-20.30 key horizontal resistance area, and below the main descending trend lines for the overall bearish trend. Accordingly, the bearish trend remains in play, where only a break above 20.20 may start to damage the bearish configuration.

    ** Short term ( Less than three months)
    ** Chart is based on GMT+2 timing

    Notes:
    *if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.
    Support 19.70 19.50 19.25 19.00 18.70
    Resistance 20.13 20.30 20.50 21.80 22.00
    Recommendation Short silver below 20.20 targets at 19.70 and 19.00. Stop loss above 20.60.


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  • Rabindra Kayastha

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