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Technical Analysis of Silver (XAGUSD): Continuous Rise or Expected Correction?The daily chart shows a clear continuation of the uptrend for silver, after prices successfully formed a series of higher highs and higher lows and moved above the positive trendline and the moving average. In addition, the latest push has driven the price toward the 69.00 area, confirming the strength of buying momentum. However, reaching an important resistance zone may open the door for some short-term profit-taking.
Technical Analysis of Silver (XAGUSD): Continuous Rise or Expected Correction?
The daily chart shows a clear continuation of the uptrend for silver, after prices successfully formed a series of higher highs and higher lows and moved above the positive trendline and the moving average. In addition, the latest push has driven the price toward the 69.00 area, confirming the strength of buying momentum. However, reaching an important resistance zone may open the door for some short-term profit-taking.
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