Silver reverses modest intraday losses to the $23.00 neighbourhood and turns neutral during the early European session on Wednesday, albeit lacks foll
The mixed technical setup warrants some caution for bullish traders ahead of the FOMC decision.Silver
From a technical perspective, the recent goodish rebound from the $22.30 support area – representing an ascending trend line extending from the June monthly low – and the emergence of some dip-buying on Wednesday favours bullish traders. That said, the overnight failure to find acceptance above the 38.2% Fibonacci retracement level of the August-September fall and a pullback from the vicinity of the very important 200-day Simple Moving Average warrants some caution.
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