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17:45 · 28 October 2022

BREAKING: Precious metals in retreat amid stronger USD

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The strengthening of the dollar puts pressure on the precious metals market. Both gold and silver fell sharply on Friday. Looking at the SILVER chart on the H1 interval, a short-term support at $ 19.05 is currently being tested, which is marked with a lower limit of the 1:1 structure. The previous three corrections had almost identical range, so if history were to repeat itself, another attack on the resistance level at $ 19.75 is possible.

SILVER interval H1. Source: xStation5

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