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Silver Technical Analysis – Important Test of Previously Broken 1-yr Trend-line

Silver Technical Analysis – Important Test of Previously Broken 1-yr Trend-line

Paul Robinson, Strategist

Silver Technical Analysis: at March trend-line

The silver price outlook may hinge on how things play out here at the retest of the broken March trend-line. A break of a trend-line doesn’t necessarily mean a trend change is imminent, but it is can certainly be an early warning sign. A turn back lower from here would bring into play support surrounding the 200-day at 24.21, but a break below there could set into motion a larger down-move. A recapturing of the line may help bolster the prospects of seeing silver reassert its longer-term uptrend. See the video for details.

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Silver Daily Chart (March trend-line retest in play)

silver daily chart

Silver Chart by TradingView

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Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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