Silver is consolidating after the channel breakout
Silver is consolidating in a narrow triangle after the upside channel breakout. A close above 28.65 is required for the upside continuation and extension higher to test the new high. For a complete bearish downside reversal breakout and higher probability short trade entries, we need to see a confirmed break below 26.42. A break below this level would lead to a deeper pullback. The overall long-term is an uptrend but we need to see a break above 28.500 for a complete reversal higher.
Note – We are more inclined to a short trade entry with the stop loss above 28.470
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