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Free AccessApproaching The 50-Day EMA
- RES 4: $21.540 - High Jun 27
- RES 3: $21.000 - Round number resistance
- RES 2: $21.540 - High Jun 27
- RES 1: $20.374 - 50-day EMA
- PRICE: $20.012 @ 12:16 BST Jul 29
- SUP 1: $18.146/18.000 - Low Jul 14 / Round number support
- SUP 2: $17.312 - 3.00 proj of the Mar 8 - 29 - Apr 18 price swing
- SUP 3: $16.955 - Low Jun 15 2020
- SUP 4: $16.735 - Low May 22 2020
Silver is firmer and has traded above the 20-day EMA this week. Short-term gains are considered corrective. A stronger bounce however signals scope for a climb towards the 50-day EMA, at $20.374. This average marks a key pivot short-term resistance and a break would signal scope for a stronger recovery. The broader downtrend remains intact and key support has been defined at $18.146, Jul 14 low. A break would resume the downtrend.
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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.