Free Trial

21-DMA Resistance Key Today *RES 4:....>

SILVER TECHS: 21-DMA Resistance Key Today
*RES 4: $17.030 - Low Jan 31 now resistance
*RES 3: $16.816 - 200-DMA
*RES 2: $16.771 - High Feb 21
*RES 1: $16.559 - 21-DMA
*PRICE: $16.429 @ 0430GMT
*SUP 1: $16.400 - Hourly support Mar 2
*SUP 2: $16.150 - 2018 Low Mar 1
*SUP 3: $16.007 - Low Dec 18
*SUP 4: $15.612 - Monthly Low Dec 13
*COMMENTARY: The aggressive bounce from fresh 2018 & 3 month lows is less than
ideal for bears although layers of resistance are noted $16.548-17.030 where key
DMAs are situated. Bulls now need a close above the 21-DMA to ease bearish
pressure and above $17.030 to confirm an end to bearish hopes and a return in
focus to $17.394-696 where 2018 highs are noted. Bears now need a close below
$16.150 to target Dec lows.

To read the full story



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.