Precious metals markets have been slowly recovering following tuesday’s rapid sell-off. On Wednesday declines were deepened, but eventually these metals finished the session higher. This morning one can also spot some gains. Silver is adding roughly 1.30% while gold prices are rising 0.80%.
As far as technical analysis is concerned, one can see a triangle pattern which is building up on silver H1 chart. Despite lower volatility, smashing through lower or higher limit of the pattern should provide some additional volatility which could result in bigger moves.
Silver, H1 interval. Source: xStation5
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