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Bulls Return

SILVER TECHS
  • RES 4: $27.628 - High Sep 15 and a key resistance
  • RES 3: $27.284 - Trendline resistance drawn off the Aug 7 high
  • RES 2: $25.851 - Low Sep 8
  • RES 1: $25.562 - Intraday high
  • PRICE: $25.460 @ 06:18 BST Oct 12
  • SUP 1: $23.834 - Low Oct 9
  • SUP 2: $22.878 - Low Oct 6
  • SUP 3: $21.677 - Low Sep 24 and the bear trigger
  • SUP 4: $20.751 - 38.2% retracement of the Mar - Aug rally
Silver offset recent bearish threats with a rally Friday clearing resistance at $24.515, Oct 5 high. The break higher confirms a resumption of the uptrend that started on Sep 24. An extension higher would set the scene for a climb towards $25.851, Sep 8 low and trendline resistance at $28.284. The trendline is drawn off the Aug 7 high. Firm support has been defined at $22.878, Oct 6 low
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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