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SI00
Market Watch
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One analyst suggests there may finally be a cloud to silver’s lining

1. Silver prices hit $47 per ounce, nearing 1980's high. 2. Analyst predicts a potential market correction next week. 3. Increased import activity by India strained silver reserves. 4. Absence of Chinese buyers exacerbated tight market conditions. 5. RSI suggests silver is overbought, indicating possible price decline.

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FAQ

Why Bearish?

The RSI reaching 82 typically precedes price corrections. Historical instances indicate nine-month declines follow similar overbought conditions.

How important is it?

Current market dynamics, including extremes in lease rates and Indian imports, influence SI00’s price more than historical highs.

Why Short Term?

The immediate market correction is expected within the next week. Recent supply chain interruptions suggest volatility will persist in the short term.

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