Consolidating But Remains Vulnerable

• RES 4: $30.100 - High Feb 1
• RES 3: $29.053 - High Feb 2
• RES 2: $28.498 - 61.8% retracement of the Feb 1 - 4 sell-of
• RES 1: $27.812 - High Feb 9
• PRICE: $27.417 @ 07:50 GMT Feb 15
• SUP 1: $26.712 - 20-day EMA
• SUP 2: $25.905 - Low Feb 4
• SUP 3: $25.483 - 76.4% retracement of the Jan 18 - Feb 1 rally
• SUP 4: $24.700 - Low Jan 27

Silver traded sharply higher Feb 1 clearing resistance at $27.931, Jan 6 high. The climb resulted in a test of $30.00 and registered a fresh trend high print of the upleg that started mid-March 2020. On Feb 2 though, price reversed the previous day's direction and Silver still remains vulnerable, despite the most recent move higher from $25.905, Feb 4 low. Further weakness would open $25.483, a Fibonacci retracement. Key resistance is at $30.100.