Silver prices are now practically unchanged for the week near $ 26.85, having peaked at 27.81 earlier this week.
The pullback validates the bullish fatigue signaled by the long upper wick attached to the previous weekly candle and suggests there is room for a deeper dip.
The support is seen in 25.90$ (last week’s low), which, if broken, would expose the highest low of 24.60$ created in january. On the other hand, the weekly maximum of 27.81$ is the resistance to beat for the bulls.
Silver weekly chart
Silver technical levels
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