MNI BRIEF: Fed's Williams Says There's No Urgency To Cut Rates

WILLIAMS: NOT BASE CASE TO RAISE RATES FURTHER

MNI: FED'S WILLIAMS: DON'T FEEL URGENCY TO CUT INTEREST RATES

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

US EIA:NAT GAS STORAGE +50 BCF TO 2,333 BCF APR 12 WK

MNI: US NAR: MAR EXISTING HOME SALES 4.19M SAAR

MNI: US APR PHILADELPHIA FED MFG INDEX 15.5

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bears Pause For Breath

SILVER TECHS
  • RES 4: $26.467 - High Jul 14
  • RES 3: $26.002 - High Aug 4 and a key resistance
  • RES 2: $25.406 - High Nov 16
  • RES 1: $23.030/772 - High Dec 1 / High Nov 24
  • PRICE: $22.328 @ 09:29 GMT Dec 3
  • SUP 1: $21.995 - Low Oct 1
  • SUP 2: $21.423 - Low Sep 29 and key support
  • SUP 3: $20.871 - 50.0% retracement of the Mar ‘20 - Feb ‘21 rally
  • SUP 4: $20.000 - Psychological round number

Silver is consolidating but remains bearish. The metal has this week breached support at $23.020, Nov 23 low and recently cleared the 50-day EMA. The break lower suggests scope for a deeper short-term pullback with the focus on $21.995 next, Oct 1 low. A break would expose the major support at $21.423, Sep 29 low. For bulls, a firm short-term resistance is seen at $23.772, the Nov 24 high.

Energy BulletsCommodities
Energy BulletsCommodities

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.