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10 Aug 2015 Technical Chart Silver Bullish outlook





Silver had formed a minor degree bounce, which faced resistance near the key daily moving averages. From thereon it has fallen towards the low of $14.42. Near the low bulls have rushed in to provide support to the white metal. In terms of price pattern, silver has formed an ending diagonal pattern and has broken out on the upside. The short-term momentum indicator has triggered a bullish crossover. Thus, unless the recent low of $14.33 breaks on closing basis silver can bounce till $15.30-15.71.

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