Free Trial

Bulls Need Close Above 200-DMA *RES....>

SILVER TECHS
SILVER TECHS: Bulls Need Close Above 200-DMA
*RES 4: $17.464 - High Oct 16 
*RES 3: $17.380 - High Nov 17 
*RES 2: $17.120 - 200-DMA
*RES 1: $17.070 - 55-DMA
*PRICE: $16.940 @ 0410GMT
*SUP 1: $16.838 - Low Nov 20
*SUP 2: $16.778 - Low Nov 3
*SUP 3: $16.674 - Bollinger band base
*SUP 4: $16.636 - Low Oct 31
*COMMENTARY: Last week's gains remained capped ahead of the $17.541 resistance
with silver again looking heavy and focus back on layers of support $16.583-838.
Bears need a close below $16.583 to shift initial focus to $16.125-327. Bulls
now need a close above the 200-DMA to shift focus back to layers of resistance
$17.380-541 and above $17.541 to target $17.989-18.212 where Sept highs are
located.

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.