Free Trial

21-DMA Continues To Cap Rallies *RES...>

SILVER TECHS
SILVER TECHS: 21-DMA Continues To Cap Rallies
*RES 4: $15.671 - High July 26 
*RES 3: $15.610 - High July 31 
*RES 2: $15.554 - High August 3 
*RES 1: $14.997 - 21-DMA 
*PRICE: $14.765 @ 04:32 GMT 
*SUP 1: $14.483 - Low August 23 
*SUP 2: $14.338 - Low August 16 
*SUP 3: $14.000 - Support 
*SUP 4: $13.984 - Low August 26 2015 
Silver was sold off aggressively following its failure to rally above the
21-dma, with prices falling back into their two-week range. Bears have the
slight advantage following yesterday's losses, with the August 23 low at $14.483
the next downside target. A break below here would target the August 16 lows,
with little support below this level until 2015 levels. For bulls, a break above
the 21-dma would go a long way towards establishing a bullish trend.

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.