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Trading Central: Silver Rebound Expected -- Market Talk

19 Jul 2017 8:34 am

0834 GMT [Dow Jones] Silver has bounced up from another test of the lower boundary of a bullish channel, which emerged on July 14, and is likely to challenge its next resistance at $16.38, on the 30-minute chart. The RSI just crossed above its neutrality level at 50 and lacks downward momentum, while MACD is turning up and is likely to cross above the 0-level. In addition, the rising 50-period moving average maintains the upside bias. As long as $16.14 holds on the downside, look for a further advance towards $16.38. A break above this level would call for a further upside towards $16.46. Only a break below $16.14 would turn the outlook to negative with a down target at $16.06. Silver is trading at $16.17 an ounce. [This piece contains the opinions of Trading Central and does not constitute personalized investment advice or form part of any invitation or inducement to buy or sell any security. The author has been prohibited by Trading Central from purchasing or otherwise directly or indirectly acquiring any direct or indirect beneficial ownership of any instruments or markets for which Trading Central or its affiliates issues recommendations. To read more, visit bit.ly/1MehCU9.] (analysts-europe@tradingcentral.com)

(END) Dow Jones Newswires

July 19, 2017 04:34 ET (08:34 GMT)

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