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SILVER - Weekly Report
By icn.com
Short Term trend: Sideways
Intraday Bias: NeutralSilver has been consolidating within a very tight range below 22.00 horizontal resistance level and the 50-days SMA for the past seven sessions, failing to resume the sell-off. The bias is clearly neutral, as RSI line flattens hinting the lack of directional momentum. A breakout of this tight trading range is necessary to confirm the next potential direction.
** Short term Trend (Trends that last from two weeks to two months)
** Chart is based on GMT+2 timingNotes:
*if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.
*Support and Resistance levels should be treated as regions not precise numbers
Support 21.50 21.20 20.80 20.60 20.25
Resistance 22.00 22.30 22.50 22.75 23.05
Recommendation Neutral
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