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On the daily timeframe, we notice that after silver broke the yellow ascending trendline, a very strong drop occurred, quickly reaching $66.
Currently, silver is trading on the daily timeframe above $66, and as long as it holds above this level, it is considered positive. A break below it would be negative.
Of course, confirmation of a bullish outlook would come from returning to the positive zone and breaking the highlighted blue descending trendline.
Right now, as we can see, silver is still far from that and may need time. The key for now is holding above the $66–$60 range. If silver remains stable above this range for around two weeks, we can expect a continuation of the upward movement in the coming period.
So we continue to monitor and will keep updating regularly.
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