Is Silver Basing?

Spot silver continues to carve out a base-like formation for the past three weeks.

That said, however, to trigger the potential of the formation, the price structure must hurdle and sustain above 20.30/60 resistance, which will project upside targets of 21.20/50, and possibly 22.50/80 thereafter.

Only a break of today's low at 19.56 will weaken the pattern, while a decline that breaks 19.00 will wreck the base-like pattern altogether.

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