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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.
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Free AccessBearish Outlook
- RES 4: $25.206 - High Jun 8
- RES 3: $24.867 - High Sep 3 and the reversal trigger
- RES 2: $23.525 - 50-day EMA
- RES 1: $23.191 - High Oct 8
- PRICE: $22.644 @ 07:56 BST Oct 11
- SUP 1: $21.423 - Low Sep 29
- SUP 2: $20.871 - 50.0% retracement of the Mar '20 - Feb '21 rally
- SUP 3 :$20.000 - Psychological round number
- SUP 4: $19.851 - Low Jul 21, 2020
The Silver trend outlook remains bearish. The metal broke lower Sep 29 and cleared $22.039, Sep 20 low. This confirmed a resumption of the broader downtrend and maintains the bearish price sequence of lower lows and lower highs. The move lower paves the way for an extension towards $20.871, a Fibonacci retracement. On the upside, key near-term resistance is at $23.191, Oct 8 high. Gains are considered corrective.
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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.