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The technical outlook is little changed for silver.
The overall trend is bullish above the January 22 low of $14 and the next resistance level and target for bullish traders is the December 7 high of $14.58, a target silver should be able to reach so long as its correlation to the price of gold holds up. My latest fair-value-estimate suggests that silver should be trading at $14.93 on gold prices trading at or above $1124.5.
The Fed Finally Hiked Rates. Now what do we Watch for the Dollar?
Fundamental Forecast for the US Dollar: Bullish
Asia market started the day with a mild risk-on mood. Regional stocks made recovery attempts from yesterday’s lows. Similar things occurred in commodities: oil bounced back to 28s and copper returned to Tuesday levels.