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Silver technical analysis

Alan xi
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Silver price rebounds after testing the breakout region of the Descending Triangle chart pattern formed on a daily timeframe near $23.00. The near-term outlook for the white metal has turned bullish as it has comfortably settled above the 20 and 50-day Exponential Moving Averages (EMAs), which trade around $22.80 and $23.00, respectively.

The 14-period Relative Strength Index (RSI) approaches the 60.00 hurdle. A decisive break above the same would trigger a bullish momentum.


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