MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Corrective Cycle Still In Play

SILVER TECHS
  • RES 4: $25.267 - High Jul 20
  • RES 3: $25.014 - High Aug 30
  • RES 2: $24.298 - High Sep 4
  • RES 1: $23.774 - High Sep 22 and a key resistance
  • PRICE: $23.111 @ 07:31 BST Oct 24
  • SUP 1: $22.567 - 20-day EMA
  • SUP 2: $21.573/20.689 - Low Oct 9 / 3 and the bear trigger
  • SUP 3: $20.000 - Round number support
  • SUP 4: $19.904 - Low Mar 10 and a key support

A corrective cycle in Silver remains in play and the metal is trading closer to its recent highs. Price has traded through both the 20- and 50-day EMAs. The breach of the 50-day average, at $22.824, strengthens bullish conditions and the move higher has opened $23.774, the Sep 22 high. For bears, a reversal lower and a break of $20.689, the Oct 3 low, would confirm a resumption of the downtrend. Initial support to watch though is $22.567, the 20-day EMA.

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