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Bullish Extension

SILVER TECHS
  • RES 4: $25.293 - High Apr 20 2022
  • RES 3: $24.729 - 76.4% retracement of the Mar - Sep 2022 bear leg
  • RES 2: $24.637 - High Feb 2 and a key resistance
  • RES 1: $24.000 - Round number resistance
  • PRICE: $23.881 @ 08:13 BST Mar 31
  • SUP 1: $22.828 - Low Mar 28
  • SUP 2: $22.254 - 50-day EMA
  • SUP 3: $21.474 - Low Mar 16
  • SUP 4: $20.591 - Low Mar 13

Silver remains firm and the metal traded to a fresh trend high Thursday. The break higher strengthens bullish conditions and maintains the current price sequence of higher highs and higher lows. This has opened $24.637, the Feb 2 high and a key resistance. On the downside, initial firm support is seen at $22.828, the Mar 28 low, ahead of the 50-day EMA which intersects at $22.254.

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