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Silver: Eyes Stability at $24.50

From dailyforex.com

Silver has gone back and forth during the trading session on Tuesday, as we continue to hang around the $24.50 level. The $24.50 level is an area that has previously offered resistance and now offers a significant amount of support. All things being equal, this is a market that I think will continue to move on massive external pressures, not the least of which would be industrial demand. That being said, the area that we are in right now also reflects the idea that perhaps central banks loosening monetary policy around the world will continue to drive precious metals higher. However, it's worth noting that silver is ... (full story)

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  • Category: Technical Analysis