Free Trial

Bears Still In Charge

SILVER TECHS
  • RES 4: $27.831 - High Jun 16
  • RES 3: $26.775/27.245 - High Jul 6 and key resistance / High Jun 17
  • RES 2: $26.467 - High Jul 14
  • RES 1: $25.761 - High Jul 19
  • PRICE: $25.392 @ 07:23 BST Jul 23
  • SUP 1: $24.758 - Low Jul 21
  • SUP 2: $24.686 - Low Apr 13
  • SUP 3: $24.257 - Low Apr 1
  • SUP 4: $23.781 - Low Mar 31and key support

Silver remains bearish. The metal has this week breached support at $25.529, Jun 29 low and bear trigger. The break confirmed a resumption of the downleg that started May 18. Note that $24.955, 76.4% of the Mar 31 - May 18 rally has also been breached. This opens $24.686, Apr 13 low. Moving average studies are in a bear mode reinforcing the current bearish theme. Key resistance has been defined at $26.775, Jul 6 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.