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Silver Bulls Eye Breakout as Coil Tightens
Silver finds itself pulling back towards a support zone comprising former resistance at $77 and the uptrend dating back to the lows struck on May 20 on the H4 timeframe, creating a potentially interesting entry point for longs considering the broader structure the price trades within resembles something akin to an ascending triangle and channel cross. The price tested the support zone earlier today and bounced strongly, so if we see a repeat performance with the current candle, longs could be set ahead of the uptrend with a tight stop beneath for protection, targeting a run back towards $78 where the price has ... (full story)