After a 50/100 weekly MA bearish cross in April #silver is down ~13% and today’s daily candle does not seem to warrant a reversal/rally.
This event is rare and it happened only 9 times in the last 42 years. After such events that always triggered multi-week/month corrections, silver suffered an average loss of 35%. Range: 8-72%. If the metal targets a 35% loss now, it would be heading towards $16.
Tune up for the weekly report this weekend.
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