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Consolidating

SILVER TECHS
  • RES 4: $24.666 - High Apr 22
  • RES 3: $23.974 - Low Mar 29
  • RES 2: $22.785 - 50-day EMA
  • RES 1: $22.483 - High Jun 3
  • PRICE: $22.171 @ 07:59 BST Jun 8
  • SUP 1: $21.435/20.464 - Low Jun 1 / Low May 13 and bear trigger
  • SUP 2: $20.282 - 2.00 proj of the Mar 8 - 29 - Apr 18 price swing
  • SUP 3: $20.000 - Psychological round number
  • SUP 4: $19.581 - 2.236 proj of the Mar 8 - 29 - Apr 18 price swing

Silver is unchanged. The metal last week briefly tested levels above resistance at $22.446, May 27 high. A clear break above this level is required to suggest scope for an extension higher that would open the 50-day EMA at $22.785. For bears, a resumption of weakness would signal potential for a move towards key support and the bear trigger at $20.464, the May 13 low. Initial support to watch is $21.435, the Jun 1 low.

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