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Silver remains under pressure

Silver went sideways for about 3 weeks but broke lower on Friday. We could continue lower today to retest Friday’s low & Fibonacci support at 21.48/46. A break lower cannot be ruled out and could target 21.19, possibly 20.98 but a low for the day could be seen here if we fall this far. Resistance at 21.90 but above here we could stretch to 22.18. Look for a selling opportunity here but shorts need stops above 22.35 as a break higher could target 22.60.

Jason Sen
Daily Technical forecasts US, Europe & Asia
Equity Index, Commodities, Forex & Fixed Income
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