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Long

Silver price predictions

FX:XAGUSD   Silver/U.S. Dollar
47 0 2
Silver             has a great opportunity to break out of the triangular formation within October. Apart from waves a-b-c apparent completion, the reaction is supported by a rounding bottom as well. The critical test for the future trend will arise, when silver             approaches a value of 16.6, which is situated on the upper line of the declining channel.

Based on extrapolated previous wave durations, this should take place around November the 3rd. At this point, as always, 2 options present themselves. In case of option (2) December 21st appears most likely as the date for the "final" low, provided of course the oscillations remain within the channel.
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