- SLV has closed way below its 50 day moving average.
- Next important support lies near 29 Level.
- Supports in a bear market may not act meaningfully. Price is tumbling down, Hour chart shows the vertical fall clearly.
- So unless price decides to consolidate near the support levels this fall will continue. We had the 6th Red candle in daily chart in a row and this was a big one which closed near days low.
- Conclusion More pain for bulls of SLV.
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