⏫ Silver prices rise over 2% today after defending key support levels. Is the correction over?
Silver prices have a fantastic year, rising more than 30% from the start of this year despite the recent major sell-off. Prices were near $30/oz in early August but slid to $22.50 as the US dollar recovered some ground. Crucially, some key support levels have been defended. First, bulls seem to be using 150-day moving average as their support and even more importantly, declines stopped at 1:1 relationship between waves “a” and “c”. Does it mean end of troubles for the shiny metal?
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