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Trading idea for silver

Trading idea for silver

Silver is perhaps the only asset that remained on the highs after the 2020 crisis. The main reason is that investors consider it not only as a precious metal, but also as an industrial and technological one. Its use also continued to expand over the years, from being an automotive catalyst to a component in solar panels and 5G broadband wireless data transmission networks (fifth generation technology).

Considering all this, investors could provoke a further price increase by using the "Impulse Strategy".

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Trading idea for silver

Since there is a three-wave pattern (ABC), where wave A represents the buying pressure last year, investors can open long positions to set off a 50% pull back from $ 20. Place stop loss at $ 12 and then take profit on the breakdown of $ 30 and $ 50.

Good luck!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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