MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

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CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Breaches The 50-Day EMA

SILVER TECHS
  • RES 4: $22.253 - 50.0% retracement of the Mar 8 - Sep 1 bear cycle
  • RES 3: $21.967 - High Jun 17
  • RES 2: $21.540 - High Jun 27
  • RES 1: $21.242 - High Oct 4 and key resistance
  • PRICE: $19.385 @ 08:07 BST Oct 11
  • SUP 1: $19.052 - Low Oct 3
  • SUP 2: $17.967/562 - Low Sep 28 / Low Sep 1 and bear trigger
  • SUP 3: $16.955 - Low Jun 15 2020
  • SUP 4: $16.473 - 1.00 proj of the Jun 6 - Jul 14 - Aug 10 price swing

Silver found resistance last week at $21.242 on Oct 4. The reversal has resulted in a print below the 50-day EMA, at $19.561. This suggests potential for a continuation lower and the metal is trading lower today. Attention is on $19.052, the Oct 3 low. A break would expose $17.967, the Sep 28 low. Key resistance is at $21.242, where a break is required to reinstate a bullish theme and a stronger reversal.

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