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Silver: Sees Noisy Behavior

From dailyforex.com

Silver experienced an early rally during Tuesday's trading session, with the hammer pattern from the previous Monday session appearing to lend support to the market. The $22 level held particular significance, as it played a pivotal role in maintaining market buoyancy. A potential move higher from this point could lead silver toward the 50-Day EMA, which is a critical area of interest. However, it's essential to prepare for significant resistance and a potential struggle in that vicinity. Despite the possibility of an upward move, there remains the risk of silver revisiting lower price levels. Traders are closely ... (full story)

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  • Category: Technical Analysis