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(M3) Short-Term Gains Considered Corrective


Curve Flatter In Asia


(M3) Holding Above Support


Remains Above Support

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Corrective Gains

  • RES 4: $26.636 - High Mar 18 and firm near-term resistance
  • RES 3: $26.318 - High Mar 19
  • RES 2: $25.670 - 50-day EMA
  • RES 1: $25.617 - High Apr 8
  • PRICE: $25.106 @ 07:06 GMT Apr 12
  • SUP 1: $24.617 - Low Apr 5
  • SUP 2: $23.781 - Low Mar 31
  • SUP 3: $23.524 - Low Dec 7 and key near-term support
  • SUP 4: $22.591 - Low Dec 12

Silver is holding onto the bulk of recent gains following the recovery from $23.781, Mar 31 high. Despite these recent gains, the outlook remains bearish and upticks are considered corrective. Recent weakness has opened $23.524, Dec 7 low and a key near-term support. On the upside, the 20-day EMA has been probed. An extension higher would expose $25.670, the 50-day EMA. Clearance of the average would instead be bullish.

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