Free Trial

Bearish Focus

SILVER TECHS
  • RES 4: $28.316 - High Sep 2
  • RES 3: $27.931 - High Jan 6 and a bull trigger
  • RES 2: $27.214 - High Jan 8
  • RES 1: $25.898 - High Jan 14
  • PRICE: $25.419 @ 09:43 GMT Jan 15
  • SUP 1: $24.346 - Low Jan 11
  • SUP 2: $24.203 - 61.8% of the rally between Nov 30 and Jan 6
  • SUP 3: $23.478 - Trendline resistance drawn off the Aug 7 high
  • SUP 4: $23.323 - 76.4% of the rally between Nov 30 and Jan 6

Silver traded sharply lower Jan 8 and despite recovering off Monday's low, still appears vulnerable. The metal has traded through $24.977, Dec 21 low signalling scope for a deeper pullback. The next support is at $24.203, 61.8% of the rally between Nov 30 and Jan 6. A break would open former trendline resistance at $23.534, drawn off the Aug 7 high. Initial resistance is $25.898, yesterday's high.

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.