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Silver Technical Analysis: A little climb before it comes back down again

1 Nov 2018 04:15 PM

Silver is trying to climb, and stability above 14.32 may cause further price hikes. However, we believe that the current rally will be temporary, and then the price will come back again. From the bottom, breaking the price of 14.30 will fail the extension of the uptrend, and bring the price back down again.

However, we should know that the resumption of trading above 14.55 will weaken the probability of going down.

Therefore, we think it is good to sell silver below 14.45 with the expected profit taking in two stages at 14.32 and 14.15 and stop loss above 14.60.

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