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Bottoming Tail On Spot Silver: Possible Bottom

Silver flushed almost 3% in overnight trading. This downside continued the sharp slide from Friday for a net max loss of 6% in two days. Silver has fallen approximately 20% in the last few months. However, a bottom may be finally in place. In early afternoon trading today, silver has sharply recovered and is putting in a possible bottoming tail on the daily chart. This is a bullish reversal signal and could mean upside is on its way.

Gareth Soloway