Could This Cause Silver To Blast Off?
Rare Situation At Hand!
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Silver has lost almost two-thirds of its value in a little over two years.
The decline has brought Silver down to a rare situation. The above chart is based upon Monthly closing prices in Silver. The chart reflects that six different support lines come into play at (3) in the chart below.
At the same time traders in the metals complex have established positions where Silver has rallied over the past 8-years. Support is support until broken and this is a rare situation where so many support lines meet at one price point.
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