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Introduction
Silver (SLV) prices have rallied significantly in the past two months, up over 50% from their March lows and slowly approaching the high of their five-year range of 13.5-18.5. In addition, SLV has also been trading above its 200-day simple moving average ((SMA)), comforting investors that we may be experiencing the start of a long-term rally. In this article, we argue that even though we remain bullish on SLV in the long run, we think that silver looks quite vulnerable in the short run and we expect a little consolidation in the coming weeks.