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Jun 24, 2022 11:18 AM

Silver chart analysis Short

Silver FuturesCOMEX

Description

The failure of the silver price to make a break above $ 22.00 at the beginning of the week started the bearish trend, which this morning formed a new lower low at $ 20.75. Early this morning, the price of silver broke the support to $ 21.00 and fell to $ 20.75. The pressure on the price is still very present on the chart, and we will likely see the continuation of the bearish trend towards the $ 20.50 level. A break below this level brings us down to the May support level at $ 20.42. For the bullish option, we need a new positive consolidation and a return above the $ 21.00 level. It is then necessary for the price to remain at that level, forming a new higher low from which a new bullish impulse would begin. Potential higher targets are $ 21.25 and $ 21.50 levels.
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