Tuesday, August 1, 2017

Silver Bogey

SLV's down-trending channel line, intersected by Rick Ackerman's long term 'pivot' level (15.91), is stiff resistance which may now be augmented by a Dollar reversal.

If Silver falters, a viable first downside target level will be the June 6th A-B-C pivot (14.78).  There it will encounter support where the high volume bars of July 7th and 10th have together formed a 'duo-hammer'.

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