Free Trial

Consolidating

SILVER TECHS
  • RES 4: $28.556 - High Jun 1
  • RES 3: $28.285 - High Jun 11 and a key resistance
  • RES 2: $27.831 - High Jun 16
  • RES 1: $27.245 - High Jun 17
  • PRICE: $25.910 @ 07:35 BST Jun 24
  • SUP 1: $25.554 - Low Jun 21
  • SUP 2: $25.199 - Low Apr 14
  • SUP 3: $24.955 - 76.4% retracement of the Mar 31 - May 18 rally
  • SUP 4: $24.686 - Low Apr 13
Silver remains weak following last week's sharp sell-off. The metal is consolidating at recent lows and this price action appears to be a bear flag, reinforcing current bearish conditions. The recent move lower resulted in a break of the 50-day EMA and price remains below the average. Attention is on $24.955 next, a Fibonacci retracement. Initial firm resistance is seen at $27.245, Jun 17 high.

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.