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Bearish Focus

SILVER TECHS
  • RES 4: $22.517 - High Jun 6
  • RES 3: $21.884 - 50-day EMA
  • RES 2: $21.088 - 20-day EMA
  • RES 1: $20.464 - Low May 13 and recent breakout level
  • PRICE: $20.036 @ 07:56 BST Jul 5
  • SUP 1: $19.385 - Low Jul 1
  • SUP 2: $19.000 - Round number resistance
  • SUP 3: $18.693 - 61.8% retracement of Mar ‘20 - Feb ‘21 bull cycle
  • SUP 4: $18.447 - 2.618 proj of the Mar 8 - 29 - Apr 18 price swing

The Silver outlook remains bearish and the metal resumed its bear leg last week - price breached the bear trigger at 20.4635, May 13 low. The break lower confirms an extension of the downtrend that has been in place since early February 2021. The metal has also cleared the $20.00 handle and sights are on the $19.00 handle next. The 20-day EMA, at $21.088 marks a key short-term resistance.

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  • RES 4: $22.517 - High Jun 6
  • RES 3: $21.884 - 50-day EMA
  • RES 2: $21.088 - 20-day EMA
  • RES 1: $20.464 - Low May 13 and recent breakout level
  • PRICE: $20.036 @ 07:56 BST Jul 5
  • SUP 1: $19.385 - Low Jul 1
  • SUP 2: $19.000 - Round number resistance
  • SUP 3: $18.693 - 61.8% retracement of Mar ‘20 - Feb ‘21 bull cycle
  • SUP 4: $18.447 - 2.618 proj of the Mar 8 - 29 - Apr 18 price swing

The Silver outlook remains bearish and the metal resumed its bear leg last week - price breached the bear trigger at 20.4635, May 13 low. The break lower confirms an extension of the downtrend that has been in place since early February 2021. The metal has also cleared the $20.00 handle and sights are on the $19.00 handle next. The 20-day EMA, at $21.088 marks a key short-term resistance.