Peter Brandt: Silver near perfect descending triangle if Feb. 6 low was $2.50 lower

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Peter Brandt: Silver near perfect descending triangle if Feb. 6 low was $2.50 lower — Silver close to perfect pattern

Peter Brandt, founder and CEO of Factor LLC, commented on the recent price action in silver futures (SI_F), suggesting that if the Feb. 6 low had been $2.50 lower, the chart would depict a near perfect descending triangle pattern.

Brandt noted that this is not necessarily his preferred scenario but indicated he remains open to various interpretations of the silver market structure.

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Brandt previously described a sharp selloff in gold, silver, and stocks as a classic liquidation event in recent comments. He also identified a potential move toward the lower channel range for gold in an earlier technical outlook. His recent remarks come as traders monitor evolving patterns in the precious metals market.

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