Silver buy level works again on Friday
|Silver
Silver is trending higher but with significant declines after a break higher & periods of low volatility, trading sideways for long periods after a move.
Longs at support at 6470/6460 worked as we shot higher from 6445 to my 1st target of 6620/6630.
We paused exactly here for a few hours then eventually broke the all time high at 6678/6688.
We immediately hit the next target of 6700/6705 reaching a new all time high at 6745.
Eventually we should reach 6775/6778 then 6795/6799.
Downside corrections are common & quite swift so be careful, especially in low volume conditions over the holiday period.
First support at 6570/6550 could hold the downside (initially at least) but longs need stops below 6525.
If we break lower, look for a buying opportunity at 6455/6435 & longs need stops below 6420.
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