Silver bullish scenario activated
Despite the recent uptick in silver spot prices during the latter stages of this week, the price of silver broke lower today, notably during US trading, in which the 22.50 support level was breached. However, this activates a bullish scenario, potentially culminating in a short-term climb in price – the primary stipulation is stability above the critical 22.00 support. At the time of writing, the price of silver is trading at USD $22.28 per oz.
WTI testing key 92.40 support
WTI crude oil moved lower during the European session, after testing the its 50-day SMA, and thus approaching the key 92.40 support. In these moments, crude prices are trading at USD $92.74/bbl Friday during US trading.
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