Silver is ready for a huge upside swing?
Silver is bouncing from the strong long-term upside support and a previously broken horizontal resistance line 21. As long as the 22 holds a break above near-term upside resistance 23 will call for a wave continuation to 27.
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The weekly chart shows that the instrument is bouncing from the rectangle support and a rising wedge support line near 21.3 and needs to break above 23 to continue much higher. Only a break below 21.5 will invalidate the upside swing projection. Here also pay attention to a gold/silver ratio chart which is supported after basing out and ready for an upside continuation, meaning Silver is ready to out[reform Gold.
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On a daily chart, we can see that the Already a member? This article is so good, it’s for premium members only.
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