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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.
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Free AccessAccelerates Through Fib Resistance
- RES 4: $30.720 - 50% retracement of the 2011 - 2020 downtrend
- RES 3: $28.076 - High Apr 9 2013
- RES 2: $28.033 - 2.0% Upper Bollinger Band
- RES 1: $27.658 - 200% retracement of August '19 to March '20 fall
- PRICE: $27.363 @ 06:30 BST Aug 6
- SUP 1: $22.317 - Low Jul 28 and key near-term support
- SUP 2: $23.158 - 20-day EMA
- SUP 3: $22.261 - Low Jul 21
- SUP 4: $21.283 - Low Jul 22
Silver added to recent gains Wednesday, hitting new cycle highs and topping 26.220, the key 38.2% Fib retracement drawn from the 2011 - 2020 downtrend. This shifts upside targets higher to 27.276 and 28.076. The trend remains in an extreme overbought position, which is worth monitoring for any signs of a top. The initial key support lies at $24.026, the weekly low.
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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.