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  • SILVER - Weekly Report



    Silver breaks to new highs, acquiring the bullish scenario, and probably heading towards the next key resistance area at 24.80. The rally may finds strong resistance at the aforementioned horizontal level as it coincides with a potential descending resistance level as shown on the daily chart above. Overall, the bullish bias remains favored for this week, but will cautiously monitor 24.80 key level for downside reversal signas.

    ** Short term Trend (Trends that last from two weeks to two months)
    ** Chart is based on GMT+2 timing

    Notes:
    *if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.
    Support 24.00 23.70 23.40 23.10 22.75
    Resistance 24.40 24.80 25.00 25.50 25.75
    Recommendation Long above 23.75, targets at 24.20 and 24.80. Invalidation hourly closing below 23.20


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