Free Trial

Clears Key Resistance

SILVER TECHS
  • RES 4: $26.222 - High Apr 18 2022 and a key resistance
  • RES 3: $26.135 - High May 5 and bull trigger
  • RES 2: $25.185 - 76.4% retracement of the May 5 - Jun 23 downleg
  • RES 1: $25.172 - High Jul 18
  • PRICE: $25.033 @ 08:07 BST Jul 19
  • SUP 1: $24.099 - Low Jul 13
  • SUP 2: $23.353 - 20-day EMA
  • SUP 3: $22.527 - Low Jul 6
  • SUP 4: $22.111 - Low Jun 23 and the bear trigger

Silver maintains a firmer short-term tone and the metal traded a new high in late US hours Tuesday. Resistance at $24.530, the Jun 9 high, has been cleared. The break of this hurdle highlights a stronger short-term reversal and signals scope for further gains above $25.00 towards $26.1350, the May 5 high and a key resistance. On the downside, initial firm support is seen at $23.353, the 20-day EMA.

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.