Spot Silver : Another crack at US$ 50 looks likely

Getting to within spare change of the half century mark, Silver may need a short while longer to consolidate before posting another attempt at US$ 50.
Trade View
• Silver has significant support back at US$ 45.20-45.40 and an initial level at US$ 47.250 down to 46.670, so even a period of much needed price consolidation will unlikely see the trend break just yet.
• We very much expect Silver to post another attempt at the US$ 50 mark in the near term, and unless we see a huge correction this week – to US$ 43 or lower, we will remain bullish and look to enter on dips for short term trading opportunities.

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