MNI China Daily Summary: Wednesday, June 19

MNI BRIEF: Rate Changes Affect Eurozone More Than US Firms-ECB

MNI BRIEF: BOJ May Real Export Index Drops 1.4% M/M

MNI BRIEF: PBOC, MOF To Promote Treasury Trades Progressively

MNI: PBOC Net Injects CNY276 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY278 BILLION VIA 7-DAY REVERSE REPOS WEDS

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

MNI: US NAHB HOUSING MARKET INDEX 43 IN JUN

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bullish Engulfing Candle

SILVER TECHS
  • RES 4: $26.397 - 1.50 proj of the Oct 3 - 20 - Nov 13 price swing
  • RES 3: $26.222 - High Apr 18 2022
  • RES 2: $26.135 - High May 5 and a key resistance
  • RES 1: $24.361/25.761 - 61.8% of Dec 4 - 13 bear leg / High Dec 4
  • PRICE: $24.065 @ 08:13 GMT Dec 14
  • SUP 1: $22.510 - Low Dec 13 and key short-term support
  • SUP 2: $21.883 - Low Nov 13 and a key support
  • SUP 3: $20.689 - Low Oct 3 and the bear trigger
  • SUP 4: $19.904 - Low Mar 10 and a key support

Silver reversed course yesterday highlighting a reversal. The metal is trading higher today reinforcing the developing bullish theme. Note too that yesterday’s price pattern appears to be a bullish engulfing candle. If correct, this highlights potential for a continuation higher near-term. An extension would open $24.519, a Fibonacci retracement point. Key resistance is at $25.761, the Dec 4 high. Key support lies at $22.510, yesterday’s low.

Energy BulletsCommodities
Energy BulletsCommodities

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.