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Where is Silver – Comex headed

The 240 minutes charts of Silver (comex) have taken support at an important Fibonacci levels of 70.70 retracement. A double bottom formation has also formed.

The RSI is moving up a close above 16.595 will confirm the bullish moves in the metal and silver may start heading up above the said levels. Silver is expected to move to 16.95 to 17.10 levels. However a failure to close above 16.595 will be sign of weakness for the metal.

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