In its previous attempt silver had failed to sustain above the key daily moving averages (DMAs) and tumbled sharply. It had broken the crucial swing lows of $14.42 and $14.33 on an intra-week basis. However, silver recovered from a falling trend line and posted a weekly close above these supports. A larger structure shows that the white metal has formed an Ending Diagonal pattern. Thus, unless the recent low of $13.93 breaks silver can be expected to move up. The key levels on the upside will be 15.66 and 16.10.

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