Free Trial

Above $16.730 To Ease Bearish..........>

SILVER TECHS
SILVER TECHS: Above $16.730 To Ease Bearish Pressure
*RES 4: $16.866 - 21-DMA
*RES 3: $16.730 - Low Nov 28 now resistance
*RES 2: $16.589 - High Nov 30
*RES 1: $16.463 - Hourly resistance Dec 1
*PRICE: $16.340 @ 0430GMT
*SUP 1: $16.220 - Low Dec 1
*SUP 2: $16.125 - Monthly Low Aug 7
*SUP 3: $15.966 - Low July 17
*SUP 4: $15.604 - Low July 14
*COMMENTARY: Sideways trading came to an end with a sell-off and bearish close
Wednesday that shifted focus to $15.966-16.125 where monthly lows are situated.
Bulls continue to look for a close above $16.730 to ease renewed bearish
pressure and above the 200-DMA ($17.055) to shift focus back to layers of
resistance $17.222-542. The Bollinger band base ($16.308) is the key concern for
bears and currently limits follow through.

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.