• SILVER - Weekly Report


    Short Term trend: Sideways
    Intraday Bias: Neutral

    Silver has been consolidating within a very tight range below 22.00 horizontal resistance level and the 50-days SMA for the past seven sessions, failing to resume the sell-off. The bias is clearly neutral, as RSI line flattens hinting the lack of directional momentum. A breakout of this tight trading range is necessary to confirm the next potential direction.

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

    *if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.
    *Support and Resistance levels should be treated as regions not precise numbers
    Support 21.50 21.20 20.80 20.60 20.25
    Resistance 22.00 22.30 22.50 22.75 23.05
    Recommendation Neutral

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