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Silver ETF (SLV) attempted to climb above its falling channel drawn off the highs it hit a April at $50. SLV looks to have created a very large bearish wick this week at (1).
In the past a large upside failure like this at falling channel resistance is a negative event. A solid break of support line (2) would not be good for Silver! Let’s see next week if this “Wick” was a signal to look for safety in the Silver markets.