purplecowmissing

More Near Term Downside for Silver

Long
FOREXCOM:XAGUSD   Silver / U.S. Dollar
The Weekly chart of Silver is developing a bear flag formation signaling another leg to the downside. But there is potential strong support at the $20.85 level which has served as multiyear historical resistance and also happens to be the 50% retracement level of the most recent rip to the upside since the March 2020 liquidity event. I believe this possible down move may prove to be an excellent long term buying opportunity.
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