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AUSSIE BONDS

Steeper Overnight

NZD

Kiwi Starts The Week On The Back Foot

AUD

RBA Minutes In Focus

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: $24.996 @ 05:42 GMT Jan 18
  • SUP 1: $24.346 - Low Jan 11
  • SUP 2: $24.203 - 61.8% of the rally between Nov 30 and Jan
  • 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.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com