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Silver: Volatile Asset

From dailyforex.com

Silver fell rather hard during the trading session here on Tuesday, as we continue to see a lot of noise. At this point, it looks very much like a market that wants to fall towards the $28.50 level, an area that features not only the 50 day EMA, but previous support as well. There are a lot of concerns about the economy out there. Unlike gold, silver is a significant industrial metal. So, if the economy starts to fall apart, the idea is that demand will drop. Whether or not that's the case remains to be seen, but really ultimately this is a market that's in an uptrend and it looks like it's in the midst of trying to ... (full story)

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  • Category: Technical Analysis