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XAG/USD: technical analysis on 05.03.2015

Silver is still located within a descending channel unsuccessfully trying to move beyond. The upper border at 16.75 has been tested several times this week, but the pair failed to cross it. However, a support level at 16.25 that coincides with 23.6% Fibonacci retracement looks more powerful, and the bears will have to try hard to overcome this level. 


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