MNI: EUROZONE NOVEMBER CONSTRUCTION PMI 42.7 OCT 43.0

MNI BRIEF: BOJ To Adjust Easy Policy Cautiously - Nakamura

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1879 Thurs; -1.82% Y/Y

MNI BRIEF: Fed's Daly Says No 'Urgency' To Lower Rates

MNI BRIEF: Powell Says US Is 'Far' From Fiscal Dominance

MNI: FRANCE OCT INDUSTRIAL PRODUCTION -0.1% M/M, -0.6% Y/Y

MNI: GERMANY OCT FACTORY ORDERS -1.5% M/M

MNI: SWEDEN FLASH NOV CPIF +1.9% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bearish Outlook

SILVER TECHS
  • RES 4: $27.245 - High Jun 17 2021
  • RES 3: $26.943 - High Mar 8 and the bull trigger
  • RES 2: $26.222 - High Apr 18 and a key short-term resistance
  • RES 1: $24.710 - 50-day EMA
  • PRICE: $23.745 @ 07:25 BST Apr 26
  • SUP 1: $23.402 - Low Apr 25
  • SUP 2: $23.173 - 76.4% retracement of the Feb 3 - Mar 8 rally
  • SUP 3: $22.863 - Low Feb 11
  • SUP 4: $22.008 - Low Feb 3 and a key support

Silver remains soft following the reversal last week from the Apr 18 high of $26.222. The metal traded lower again yesterday, starting the week on a bearish note. This reinforces the current bear cycle and the bearish implications of the recent breach of the 50-day EMA. Support at $23.974, Mar 29 low, has been cleared. This opens $23.173, 76.4% of the Feb 3 - Mar 8 rally. Clearance of $26.222 is required to reinstate a bullish theme.

Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.