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Bloomberg reported that, according to technical analysis from Commerzbank AG, silver may continue to drop this year.
Bloomberg reported that, according to technical analysis from Commerzbank AG, silver may continue to drop this year.
As quoted in the market report:
The metal slid to $27.975 an ounce in London today, the lowest since Aug. 20. A close at $28.007 would be a 20 percent drop from Oct. 4, the common definition of a bear market. A slide below $28.26 in the next few days would mean the June 2012 trough of about $26.11 would “be back in play,” Commerzbank said in a Feb. 26 report.