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Silver Forecast: Running into Resistance

From dailyforex.com

Silver markets rallied after gapping slightly higher at the open on Tuesday again. However, we continue to see a lot of resistance above near the $28 level. Because of this, the market rolled over and started to sell off again. The $28 level continues to be a sticking point for the market, so I think it is difficult to get above there. If we were to break above the $20 level, it is likely that the market could go looking towards the $29 level. Above there, the market then goes looking towards the $30 level. Looking at the candlestick, it is a shooting star which is a negative sign but when you look at the several ... (full story)

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  • Category: Technical Analysis