Silver consolidates after the down move – Next move is probably lower
|XAG/USD
Silver beat strong resistance at 4750/4770 with the break above 4820 a buy signal but we reversed from 4844.
Note the 2 green Dojis on the daily chart showing no clear direction over the past 2 days.
Above 4850 can target 4880/4890.
There may be minor support at 4725/4705.
A break below 4695 can target 4650/40, perhaps as far as 4610/00.
Further losses retest this week's low at 4560/50.
Just be aware that a break below 4540 can target an excellent buying opportunity at 4460/4440 & longs need stops below 4395.
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