Free Trial

Above $16.390 To Gain Breathing Room...>

SILVER TECHS
SILVER TECHS: Above $16.390 To Gain Breathing Room
*RES 4: $17.316 - High June 14 
*RES 3: $16.890 - Low June 14 now resistance 
*RES 2: $16.693 - 200-DMA 
*RES 1: $16.390 - Low June 18 now resistance
*PRICE: $16.242 @ 0430GMT
*SUP 1: $16.170 - Low May 16
*SUP 2: $16.065 - Bollinger band base
*SUP 3: $16.040 - 2018 Low May 1
*SUP 4: $15.950 - Low Dec 18
*COMMENTARY: The lack of follow through above the 100-WMA ($17.161) combined
with O/B studies resulted in a sharp sell-off and break of key supports Friday.
Bulls now need a close above $16.390 to gain breathing room and above the
200-DMA to hint at a move back to $17.316-394 with above $16.890 to confirm.
Bears now focus on $15.950-16.040 with a close below initially targeting $15.590
Dec lows.

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.