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Clears Key Resistance

SILVER TECHS
Metals bulletMetals Technical AnalysisHomepagemarkets-real-timeCommoditiesBulletMarketsForeign Exchange Bullets
  • RES 4: $31.623 - 3.236 proj of the Oct 3 - 20 - Nov 13 price swing
  • RES 3: $30.912 - 3.00 proj of the Oct 3 - 20 - Nov 13 price swing
  • RES 2: $30.723 - 50.0% of the Apr 2011 - Mar 2020 bear leg
  • RES 1: $30.550 - Intraday high
  • PRICE: $30.467 @ 14:17 BST May 18
  • SUP 1: $27.885 - 20-day EMA
  • SUP 2: $26.762/018 - 50-day EMA / Low May 2
  • SUP 3: $24.328 - Low Mar 27
  • SUP 4: $22.277 - Low Feb 28

Silver maintains a bullish theme and the metal is rallying today. This has confirmed a clear break of resistance at $29.797, Apr 12 high. The breach confirms a resumption of the uptrend and opens $30.723, a long-term Fibonacci retracement level. Support at the 50-day EMA, at $26.762, remains intact. A clear break of this average would highlight a stronger reversal set-up. First support is the 20-day EMA at $27.885.

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  • RES 4: $31.623 - 3.236 proj of the Oct 3 - 20 - Nov 13 price swing
  • RES 3: $30.912 - 3.00 proj of the Oct 3 - 20 - Nov 13 price swing
  • RES 2: $30.723 - 50.0% of the Apr 2011 - Mar 2020 bear leg
  • RES 1: $30.550 - Intraday high
  • PRICE: $30.467 @ 14:17 BST May 18
  • SUP 1: $27.885 - 20-day EMA
  • SUP 2: $26.762/018 - 50-day EMA / Low May 2
  • SUP 3: $24.328 - Low Mar 27
  • SUP 4: $22.277 - Low Feb 28

Silver maintains a bullish theme and the metal is rallying today. This has confirmed a clear break of resistance at $29.797, Apr 12 high. The breach confirms a resumption of the uptrend and opens $30.723, a long-term Fibonacci retracement level. Support at the 50-day EMA, at $26.762, remains intact. A clear break of this average would highlight a stronger reversal set-up. First support is the 20-day EMA at $27.885.