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Corrective Pullback Extends

SILVER TECHS
  • RES 4: $27.831 - High Jun 16 2021
  • RES 3: $27.245 - High Jun 17 2021
  • RES 2: $27.000 - Round number resistance
  • RES 1: $26.063/943 - High Mar 10 / High Mar 8 and the bull trigger
  • PRICE: $24.731 @ 08:18 GMT Mar 15
  • SUP 1: $24.604 - Intraday low
  • SUP 2: $24.165 - 50-day EMA
  • SUP 3: $23.850 - Low Feb 24
  • SUP 4: $22.863 - Low Feb 11

Silver remains in an uptrend however the recent pullback - a correction - is still in play and signals potential for a deeper short-term pullback. The metal has breached the 20-day EMA and attention turns to the 50-day EMA at 24.1651. This EMA marks an important support. A reversal higher and move back above $26.00 would refocus attention on the key resistance at 26.943, the Mar 8 high.

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