Silver is testing major resistance,watch for potential reversal

Silver has been rising strong and is now testing major 50% resistance at 16.91 (Fibonacci retracement, Elliott wave structure, horizontal swing high resistance) and a strong reaction could occur at this level to push price all the way down to 16.48 support (Fibonacci retracement, horizontal overlap support).

Stochastic (34,5,3) is seeing major resistance at 95% where a corresponding reaction could occur.

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