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Silver Respects the Channel despite Volatility

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Silver saw some choppy trading after the FOMC hiked interest rates. The precious metal rejected off the resistance that forms the upper level of a channel which could see it drift towards the support at the bottom. The Federal Open Markets Committee announced their first interest rate hike in nine years, by 25 basis points, which was widely anticipated by the market. Silver initially saw weakness, largely thanks to relief selling that the Fed had actually followed through on their word. There

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