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SILVER TECHS
  • RES 4: $21.540 - High Jun 27
  • RES 3: $21.000 - Round number resistance
  • RES 2: $21.540 - High Jun 27
  • RES 1: $20.508 - High Aug 2
  • PRICE: $19.992 @ 08:00 BST Aug 8
  • SUP 1: $19.062 - Low Jul 28
  • SUP 2: $18.146/18.000 - Low Jul 14 / Round number support
  • SUP 3: $17.312 - 3.00 proj of the Mar 8 - 29 - Apr 18 price swing
  • SUP 4: $16.955 - Low Jun 15 2020

Silver is consolidating as bulls pause for breath. The metal has recently pierced the 50-day EMA, currently at 20.322. The average represents a key short-term resistance and a clear break would strengthen the current bull cycle. This would open, $21.540, Jun 27 high. On the downside, the broader downtrend remains intact and recent gains are still considered corrective. Key support has been defined at $18.146, the Jul 14 low and bear trigger.

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  • RES 4: $21.540 - High Jun 27
  • RES 3: $21.000 - Round number resistance
  • RES 2: $21.540 - High Jun 27
  • RES 1: $20.508 - High Aug 2
  • PRICE: $19.992 @ 08:00 BST Aug 8
  • SUP 1: $19.062 - Low Jul 28
  • SUP 2: $18.146/18.000 - Low Jul 14 / Round number support
  • SUP 3: $17.312 - 3.00 proj of the Mar 8 - 29 - Apr 18 price swing
  • SUP 4: $16.955 - Low Jun 15 2020

Silver is consolidating as bulls pause for breath. The metal has recently pierced the 50-day EMA, currently at 20.322. The average represents a key short-term resistance and a clear break would strengthen the current bull cycle. This would open, $21.540, Jun 27 high. On the downside, the broader downtrend remains intact and recent gains are still considered corrective. Key support has been defined at $18.146, the Jul 14 low and bear trigger.