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Bull Cycle Still In Play

SILVER TECHS
  • RES 4: $30.912 - 3.00 proj of the Oct 3 - 20 - Nov 13 price swing
  • RES 3: $30.100 - Feb 2021 high and a key resistance
  • RES 2: $30.000 - Psychological round number
  • RES 1: $29.797 - High Apr 12
  • PRICE: $28.522 @ 08:02 BST Apr 18
  • SUP 1: $26.910 - 20-day EMA
  • SUP 2: $25.405/328 - 50-day EMA / Low Mar 27
  • SUP 3: $22.277 - Low Feb 28
  • SUP 4: $21.928 - Low Jan 22 and a key support

Despite the pullback in Silver from last Friday’s high, the trend outlook remains bullish. Fresh trend gains last week and a bullish moving average set-up, reinforce the current positive outlook. The latest rally signals scope for a climb towards the $30.00 psychological handle. Initial firm support lies at $26.910, the 20-day EMA. A move lower in the metal would be considered corrective.

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  • RES 4: $30.912 - 3.00 proj of the Oct 3 - 20 - Nov 13 price swing
  • RES 3: $30.100 - Feb 2021 high and a key resistance
  • RES 2: $30.000 - Psychological round number
  • RES 1: $29.797 - High Apr 12
  • PRICE: $28.522 @ 08:02 BST Apr 18
  • SUP 1: $26.910 - 20-day EMA
  • SUP 2: $25.405/328 - 50-day EMA / Low Mar 27
  • SUP 3: $22.277 - Low Feb 28
  • SUP 4: $21.928 - Low Jan 22 and a key support

Despite the pullback in Silver from last Friday’s high, the trend outlook remains bullish. Fresh trend gains last week and a bullish moving average set-up, reinforce the current positive outlook. The latest rally signals scope for a climb towards the $30.00 psychological handle. Initial firm support lies at $26.910, the 20-day EMA. A move lower in the metal would be considered corrective.