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Analyzing Silver’s Price Action: Support, Resistance, and Trend
video Silver’s correction finds support at the 200-Day EMA and 50% retracement of the most recent trend, with a low of 2.66. That low was hit Friday, before silver turned higher to complete a reversal day (outside day), with a daily close above Thursday’s high. Monday’s trading is muted given the U.S., holiday but silver did manage to advance above Friday’s 23.32 high. chart Resistance for today and Friday was seen around the downtrend line. Previously, the trendline identified support over eight consolidation days prior to it breaking below the line last Wednesday. A daily close above the line indicates ... (full story)