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Should investors panic when the price of silver falls above 10% on Friday?



Kitco News has released its Outlook 2021, which offers the most comprehensive coverage of the precious metals markets in the new year. Trillions of dollars were pumped into the financial markets in 2020, and this will not come without consequences. Economists expect investors to prepare for inflation in 2021

(Kitco News) – Comex silver futures prices fell to more than a 10% drop on Friday, leading to short-term technical damage, including a serious denial of the upward price trend of the daily bar chart for March futures. Prices also closed on technical bearings weekly low closing on Friday.

Mammoth daily losses in the middle on Friday are not uncommon for the metal. The study of the daily chart for March futures shows huge daily declines that occurred in August, September and November. These previous large losses certainly repelled short-term bullish enthusiasm, but prices recovered quickly and even recently began a short-term uptrend in the daily chart.

Looking at the monthly chart for the continuation of the close futures for silver Comex, seen here, shows that no long-term damage to the chart. In fact, in 2020, prices saw an upward “breakthrough” from a fragmented and sideways trading range dating back to 2015 on the monthly chart. The recent break in the break of the monthly schedule is not a sword at all and the bulls continue to hold the long-term technical advantage.

Disclaimer: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. There is no request to exchange goods, securities or other financial instruments. Kitco Metals Inc. and the author of this article does not accept responsibility for losses and / or damages resulting from the use of this publication.


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