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Silver takes a nosedive as dip buyers are dealt a setback
The precious metal has plunged by over 12% on the day and well off the highs from the bounce in the past two days of around $92. The drop now sees silver drop back to around $76 and the technicals highlight the move rather well. After the sharp pullback from last week, it was always going to prove to be tough to regain momentum again. That especially now that the profit-taking mindset has set in and investors will be increasingly cautious. And the near-term chart shows exactly that, with silver failing to break some key technical levels on the dip buying this week: chart The bounce stalled around the 38.2 Fib ... (full story)
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