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GERMAN AUCTION RESULTS

Technically uncovered Schatz auction (again)

BOND SUMMARY

NGEU and US PPI the highlights today

MARKET INSIGHT

Price Signal Summary - EURUSD Appears Vulnerable

COMMODITIES

Copper Hits 7-Week Lows As China Seen Curbing Prices

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  • RES 4: $28.609 - 76.4% retracement of the Feb 1 - Mar 31 sell-off
  • RES 3: $28.328 - High Feb 23 and a key resistance
  • RES 2: $27.686 - 61.8% retracement of the Feb 1 - Mar 31 sell-off
  • RES 1: $27.118 - High May 4
  • PRICE: $26.674 @ 07:09 BST May 6
  • SUP 1: $25.718 - Low Apr 29 and key near-term support
  • SUP 2: $25.636 - Low Apr 19
  • SUP 3: $25.199 - Low Apr 14
  • SUP 4: $24.686 - Low Apr 13

Silver remains bullish. The metal rallied Monday trading above $26.645, Apr 21 high. This strengthens a bullish case and confirms a resumption of the recovery from Mar 31. With MA signals also in a bull mode, further gains are likely towards $27.686 next, a Fibonacci retracement. On the downside, key S/T support has been defined at $25.718, Apr 29 low. A break is required to dampen the current bullish mood.