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Silver price breaks the support – Analysis - 12-03-2020
Silver price broke 16.96 level strongly and declined clearly to approach the negative target 16.33, making the bearish bias suggested in the upcoming sessions, noting that surpassing the mentioned target will cause more decline on the short term and medium term basis.
On the other hand, note that the stability of 16.33 level against the current negative pressure will push the price to start recovery attempts that target testing 16.96 level initially, which breaching it represents the key to rally towards achieving gains that start at 17.60 and extend to 18.38.
The expected trading range for today is between 16.30 support and 16.90 resistance.
The expected trend for today: Bearish
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Gold price tests the support – Analysis - 12-03-2020
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