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Technical analysis:
Silver has been trading upside during the Asia session and the price tested the level of $18.75. Anyway, I see potential for the downside movement due to strong downside cycle.
Trading recommendation:
Due to the strong downside momentum in the background, I see potential for further downside movement.
Watch for the potential selling opportunities in case of the breakout of the mini upside channel.
Downside objective is set at the price of $18.00.
Oscillator is showing overbought condition and fresh bear cross, which is good sign for further downside movement.
Resistance is set at the price of $19.00
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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