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Silver (XAG/USD) trades below $55 in Asia today
Yesterday, as Silver approached the $56 per ounce handle we sent an update again warning readers about a possible move below the prior interim low, at $55.71. That was the prior low, from the peak at $121.65 seen earlier in the year. Well, following that update it got taken out and Silver dropped as low as $55.33 ahead of a US close, at $55.52.
The price action earlier today saw that technically negative close deliver another push on the downside and Silver then took out $55. The low seen has been set at $54.77. It did bounce back to $55.77 thereafter, but it is falling back again now. Once again we continue to remind readers of the importance of $50, or just below and how that really needs to hold. Silver is currently trading at $55.12
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