Silver is breaking below the rising channel
Silver is breaking below the rising channel 27.48. A close above 29.30 is required for the upside continuation and extension higher to 34. For a complete bearish downside reversal breakout and higher probability short trade entries, we need to see a confirmed break below 26.40. A break below this level would lead to a pullback into a 20-22 zone. The overall long-term is an uptrend but we need to see a break above 29.20 for a complete upside reversal.
Note – We are inclined more to short trade entries upon a break below 26.40
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