Our previous forecast for Silver came true, as we anticipated the drop that took place last week As it stands, in the coming days, we expect the price to pullback towards the resistance area and continue to drop towards the support level. There is a possibility for the bearish momentum to increase even more and head towards the $23 level, but that won’t affect the bigger structure, as we find ourselves in a big weekly uptrend! Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
what do you think happens when/if we get to the $25 level?
financialflagship
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@ralphkaz, Imo, if we break the support area located at $25, then most likely we would head towards $23-$22 before reversing and continue the big weekly bullish trend.
ralphkaz
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@financialflagship, thanks! and what is your timing for reaching the $50 goal?
financialflagship
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@ralphkaz, Most welcome! One year at least...This is more like an investment opportunity, and considering the times that we live in it's not bad to have some precious metals in your portfolio