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- 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.