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Bull Cycle Remains In Play

SILVER TECHS
  • RES 4: $26.135 - High May 5
  • RES 3: $25.267 - High Jul 20 and a key resistance
  • RES 2: $25.014 - High Aug 30
  • RES 1: $24.876 - Monday’s high
  • PRICE: $24.630 @ 08:07 GMT Nov 28
  • SUP 1: $23.129 - 50-day EMA
  • SUP 2: $21.883/573 - Low Nov 13 and a key support / Low Oct 9
  • SUP 3: $20.689 - Low Oct 3 and the bear trigger
  • SUP 4: $19.904 - Low Mar 10 and a key support

Silver bulls remain in the driver’s seat and the metal traded higher yesterday, starting the week on a bullish note. The break higher maintains the current positive price sequence of higher highs and higher lows and moving average studies have crossed and are currently in a bull-mode position. The focus is on $25.014, the Aug 30 high. Initial firm support lies at $23.129, the 50-day EMA.

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