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The weekly chart of Silver has fired off a Bullish Engulfing Bar (BUEB). This BUEB was formed at the recent support area, and also the 50% level.
Price during yesterdays session broke the BUEB high and moved higher. Price Action traders who entered this setup would only have been entered once price broke the BUEB highs. If we see price continues it move higher we could see price move up to test the recent highs. See chart:
SILVER WEEKLY CHART – 20 NOV 2012
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