Free Trial

$16.450-750 Support Region Key *RES....>

SILVER TECHS
SILVER TECHS: $16.450-750 Support Region Key
*RES 4: $17.742 - Monthly high June 6 
*RES 3: $17.488 - Low June 5 now resistance 
*RES 2: $17.315 - High Aug 18 
*RES 1: $17.148 - Hourly resistance Aug 18
*PRICE: $16.952 @ 0430GMT
*SUP 1: $16.826 - Low Aug 24
*SUP 2: $16.794 - 21-DMA
*SUP 3: $16.750 - Hourly resistance Aug 16 now support
*SUP 4: $16.516 - 55-DMA
*COMMENTARY: The recovery from a test of 21 & 55-DMAs managed fresh 2 mth highs
last week although the lack of topside follow through and relatively bearish
closes are less than ideal for bulls. Layers of support remain with bears
needing a close below $16.750 to ease bullish pressure and below $16.450 to end
bullish hopes and initially target $15.976-16.135. Bulls need a close above
$17.148 to retain focus on $17.315-17.742.

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.