Free Trial

Bulls Need Close Above $17.685 *RES....>

SILVER TECHS: Bulls Need Close Above $17.685
*RES 4: $17.889 - Hourly support Sept 13 now resistance 
*RES 3: $17.537 - 21-DMA 
*RES 2: $17.487 - Hourly support Sept 18 now resistance 
*RES 1: $17.395 - High Sept 20
*PRICE: $17.234 @ 0430GMT
*SUP 1: $17.055 - Hourly support Sept 26
*SUP 2: $16.837 - Bollinger band base
*SUP 3: $16.826 - Low Sept 21
*SUP 4: $16.709 - Low Aug 25
*COMMENTARY: The failure to take out $16.709 provided the impetus for a
correction with bulls looking for a close above $17.685 to confirm a break of
the 21-DMA and to return focus to tests of $18.212 Sept highs so far. Daily
studies correcting from O/S add support to the bullish case. The Bollinger base
($16.862) remains a concern for bears having recently limited follow through.
Bears look for a close below $16.709 to hint at a move back to 2017 lows.

To read the full story



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.