FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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 Theme Remains Intact

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: $24.661 - 50-day EMA
  • PRICE: $23.532 @ 08:09 BST Apr 27
  • SUP 1: $23.402 - Low Apr 25/26
  • 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 Monday, 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.