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Trading Between Its Key S/T Directional Triggers

SILVER TECHS
  • RES 4: $26.002 - High Aug 4
  • RES 3: $25.206 - High Jun 8
  • RES 2: $24.867 - High Sep 3 and the reversal trigger
  • RES 1: $24.828 - High Oct 22
  • PRICE: $24.313 @ 07:21 GMT Nov 10
  • SUP 1: $23.020 - Low Nov 3
  • SUP 2: $22.213 - Low Oct 6
  • SUP 3: $21.423 - Low Sep 29 and key support
  • SUP 4: $20.871 - 50.0% retracement of the Mar '20 - Feb '21 rally

Silver is consolidating and remains above last week's low. Recent price action has defined key short-term directional triggers at; $23.020, Nov 3 low and $24.828, the Oct 22 high. A breach of resistance would confirm a resumption of the underlying uptrend with $24.867, Sep 23 high also marking an important bull trigger. For bears, weakness through $23.020 would expose $22.213, Oct 6 low.

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