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Technical Analysis of Intraday Price Movement of Silver Commodity Asset, Monday October 14, 2024.
00:48 2024-10-14 UTC--4

If we look at the 4-hour chart of the Silver commodity asset, it appears that there is a deviation between the movement of the Silver price and the Stochastic Oscillator indicator, indicating a potential weakening that will occur in the near future in Silver where this commodity asset will try to test its closest support level, namely at 30.304. If this level is successfully broken and Silver successfully closes below that level, then Silver has the potential to continue its weakening to the level of 29.045 as its main target and if the momentum and volatility support it, then 27.930 will be the next target to be aimed for, but all of these scenarios will be invalid and automatically canceled if on its way to the target levels, Silver suddenly turns around and rises to break and close above the level of 33.146.

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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.