Silver has been trading in a higher top higher bottom formation signifying the trend to be positive; however it has witnessed some correction in the near term and currently stands near a support zone. Positive slope of the 20-day SMA corroborates the above observation indicating a rebound in the offing. It would be prudent to say that silver could rebound towards $28.00 and $28.50 while it sustains above $27.10.
Technical Analysis Team
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