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FxWirePro: Silver forms Bearish Shark Pattern, good to sell on rallies

  • Harmonic pattern - Bearish Shark pattern
     
  • Potential reversal Zone  (PRZ) -  $15.80
     
  • Silver has retreated after making a high of $15.71. It is  currently trading around $15.50.
     
  • Short term trend is bearish as long as resistance $15.80 holds.
     
  • Any break above $15.80 will take the commodity to next level till $16.28/$16.74.
     
  • On the lower side major support is around $15.45 and break below targets $15.25/$15.05.

It is good to sell on rallies around $15.55-$15.60 with SL around $15.80 for the TP of $15.25/$15.05

 

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