We have changed our view on Silver from neutral to long as the precious metal has surged above $15 and we now would want to see it consolidate above key resistance at $15.2 before challenging our near term target of $17. Silver has gained upward momentum we believe due to recent aggressive FED rate cuts and because of slightly reduced fears surrounding the coronavirus situation which could have less impact on Silver demand for industrial production.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.