Below looks at the silver's price pattern during the past 20 years. I believe that the metal is at one of its most important prices points in years, at (1).
A year ago the we noted that silver was possibly forming one of the largest Cup-and-Handle patterns seen in a long, long time. At the time, silver was trading near $14.
Since then, silver has rallied more than 40%.
Now it's facing a serious breakout test at (1) above, as five different resistance lines all meet at one price point. If weakness starts happening at (2) above, it could be dangerous for the silver risk-on trade.
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