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- Silver price jumps from $22.70 to $23.07, testing crucial resistance at 200-DMA of $23.26.
- A breach of 200-DMA could expose next resistance levels at $23.69 and Bollinger bands top at $23.80.
- If Silver falls below $23.00, supports are $22.94, $22.44, and 20-day EMA at $22.25.
Silver price jumped above the $23.00 figure bolstered by a risk-off impulse, amidst geopolitical headlines suggesting the Middle East conflict is escalating, as Israel began its ground offensive at the Gaza strip. That said, the XAG/USD rose from $22.70 and is trading at $23.07, gaining more than 1.35%.
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