Silver Price Predictions: Breaking Above Critical Resistance Signals Strong Bull Market Movement

Welcome to Extreme Investor Network, where we provide you with unique insights and valuable information about the stock market, trading, and all things Wall Street. Today, we’ll be discussing the recent movements in silver and what it means for investors.

Silver has seen a significant uptrend recently, with a remarkable 11.3% increase in the past seven days since rallying off the 26.47 swing low. This rally also successfully tested support at the 200-Day MA, signaling strength in the market. This correction may be a thing of the past, as silver continues to show signs of bullish momentum.

As we navigate this market, it’s essential to be mindful of potential short-term weaknesses. A pullback could occur, with key support levels at the 50-Day line at 29.20 and the 20-Day MA at 28.11. Looking at the chart, we see a rising ABCD pattern indicating potential targets at 29.74, highlighting a strong pivot area.

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Additionally, a bullish reversal was triggered on the weekly chart last week, further confirming the bullish trend in silver. This signals a potential continuation of the uptrend, with the possibility of surpassing the recent trend high of 32.52 from May.

For more insights and analysis on today’s economic events, don’t forget to check out our economic calendar for valuable information to keep you ahead of the game. Stay tuned for more updates and expert advice on Extreme Investor Network.

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