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In the medium term the spot silver results in a large triangle (falling wedge), the upside reversal pattern.
However, reducing the horizon time, the precious metal resides in a descending triangle, suggesting, for now, the continuation of the decline started from April 24, 2011.
Against this background, after a first initial reaction to $19.40, I expect a new and decisive drop to the first target in 18.50 - $ 18.00 and then $ 17.80 area.
Already for some time, the large traders are closing thei…
However, reducing the horizon time, the precious metal resides in a descending triangle, suggesting, for now, the continuation of the decline started from April 24, 2011.
Against this background, after a first initial reaction to $19.40, I expect a new and decisive drop to the first target in 18.50 - $ 18.00 and then $ 17.80 area.
Already for some time, the large traders are closing thei…