Free Trial

Bullish Cycle

SILVER TECHS
  • RES 4: $26.941 - 50.0% retracement of the Feb 1 - Mar 31 sell-off
  • RES 3: $26.636 - High Mar 18 and firm near-term resistance
  • RES 2: $26.318 - High Mar 19
  • RES 1: $26.304 - High Apr 16
  • PRICE: $25.808 @ 07:20 BST Apr 19
  • SUP 1: $25.199 - Low Apr 14
  • SUP 2: $24.686 - Low Apr 13 and a key support handle
  • SUP 3: $23.781 - Low Mar 31
  • SUP 4: $23.524 - Low Dec 7 and key near-term support

Silver traded higher again Friday and short-term bullish conditions remain intact despite today's pullback. The metal has breached the 50-day EMA and this places on hold the recent bearish focus. The break higher last week signals scope for gains towards $26.636, Mar 18 high and a key near-term resistance. A break of this hurdle would strengthen a bullish case. On the downside, short-term support has been defined at $24.686, Apr 13 low.

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.