Free Trial

Bulls Remains In Charge

SILVER TECHS
  • RES 4: $29.859 - High Aug 7 and major resistance
  • RES 3: $28.908 - High Sep 1 and a key resistance
  • RES 2: $28.316 - High Sep 2
  • RES 1: $27.931 - High Jan 6
  • PRICE: $27.041 @ 07:16 GMT Jan 8
  • SUP 1: $26.074 - 20-day EMA
  • SUP 2: $24.977 - Low Dec 21 and key support
  • SUP 3: $24.869 - High Dec 8
  • SUP 4: $23.758 - Trendline resistance drawn off the Aug 7 high

Silver remains bullish despite This week's retracement. Last month's key technical development was the break on Dec 16 of trendline resistance drawn off the Aug 7 high. The break, together with the move above $24.869, Dec 7 high, highlights an important bullish development. Also, this week's print above $27.416, Dec 21 high reinforces a bullish theme. The focus is on $28.908 next, the Sep 1 high. Initial key support is $24.977, Dec 21 low.

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.