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Silver: Bullish Pressure
Silver continues to hang around near the highs as the market has seen an inordinate amount of bullish pressure. At this point, we are over bond by just about any measure you can think of, and the $28.50 level should continue to be a significant barrier as it is a longer term resistance barrier with the Relative Strength Index well above 70. I do think that some type of “reversion to the mean” will happen, meaning that we should get some type of pullback. That pullback should be thought of as a potential buying opportunity as it offers cheap silver. As long as we can stay above the crucial $26 area, I think you ... (full story)