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Precision Capital Management submits: Though silver doesn’t take the headlines like gold does, it has actually been stronger than gold in this latest rally. That’s why it caught our eye on November 19 when it reversed from strong pivot resistance in the form of Yearly R[esistance]1, Monthly R2, and Quarterly R1. Though many technicians follow daily pivots, the longer time frames are important to follow as well. The latest reversal in SLV indicates there was not institutional support in the mid 18′s and may be a leading indicator of weakness in the precious metals rally. We recently updated the free TradeStation pivot indicator pictured above. To download, you must register first.
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