On a Break Lower
If we were to break down below the $55.50 level, then I think it opens up a move to the $50 level. You’ll probably see the US dollar pick up against most things, not just silver. On the other hand, if we break to the upside and can close above the $60 level, we may make a run towards $65, which I think would be a scenario that makes a bit of sense, as we have tried to at least find some stability.
I’m not really willing to put a lot of money into the silver market, but I recognize that it is a little oversold, so it might make for a decent kind of “smash and grab” trade if you will. Long-term, it is still somewhat up in the air, but the silver market is a place that you have to be careful in, as it can be so volatile and dangerous at times.
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Silver declined in its last intraday trading, affected by increasing selling activity that pushed the price back to the bearish trend, with the...
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