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May LPR Seen Slightly Lowered On Friday: Herald


Risk-Positive Price Action Creeps In

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Bearish Extension

  • RES 4: $27.081 - High Mar 1
  • RES 3: $26.636 - High Mar 18 and firm near-term resistance
  • RES 2: $25.826 - High Mar 23
  • RES 1: $25.257 - High Mar 26
  • PRICE: $24.138 @ 07:54 GMT Mar 31
  • SUP 1: $23.781 - Intraday low
  • SUP 2: $23.524 - Low Dec 7
  • SUP 3: $22.591 - Low Dec 12
  • SUP 4: $21.899 - Low Nov 30 and a key support

Silver remains soft. The metal traded lower Mar 25 clearing support at $24.836, Mar 5 low and continues to edge lower with further weakness seen likely short-term. The break lower has opened $23.524, the Dec 7 low and a key near-term support. Initial firm resistance is seen at $25.257, Mar 26 high. Key short-term resistance has been defined at $26.636, Mar 18 high. A break of this level is required to alter the picture.

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