In line with this pattern, a breakout should occur to the upside. Prior to this scenario, Silver might still edge lower for a brief period of time down to the support of the 200-hour at 17.20, thus returning near the 17.50 mark within this week. Given that this area is reinforced by the 55-hour and the monthly R1, bulls might be reluctant to breach it right away.
In case the down-trend at 17.70 is breached, the pair should advance towards 18.10.
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