- With the move to the downside, there is the case for a mean reversion although bears will be keen on striking more silver towards the bottom of the descending channel and the 78.6% Fibo in the 14.40s.
- However, a 50% retracement comes in at 14.67 as an interim upside target.
- 14.62 was a recent fractal low on the daily sticks which could prove to be a tough nut to crack.
- 14.80 is the 61.8% Fibo proven resistance/support level on a continuation of a move higher again.
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