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SILVER PRICE ANALYSIS: SILVER PRICE FINDS FLOOR BUT IS STILL AT RISK OF MORE WEAKNESS

llexaxo
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  • Silver price finds support at $26.70 but remains at risk of further weakness. 
  • It formed a pattern on the 4-hour chart after touching the top of a four-year consolidation at $30.00. 
  • XAG/USD has fallen to an initial target but is vulnerable to further declines –  support is at $25.80. 

Silver (XAG/USD) price has found a floor at $26.70 and is consolidating. This follows a sell off that reversed the short-term uptrend after Silver was rejected by the top of a long-term range at just below $30.00 (green line).


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