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EGB OPTIONS

Large Bund downside

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  • RES 4: $27.831 - High Jun 16
  • RES 3: $26.775/27.245 - High Jul 6 and key resistance / High Jun 17
  • RES 2: $26.467 - High Jul 14
  • RES 1: $25.801 - High Jul 29
  • PRICE: $25.460 @ 17:34 BST Aug 02
  • SUP 1: $24.496 - Low Jul 28
  • SUP 2: $24.257 - Low Apr 1
  • SUP 3: $23.781 - Low Mar 31and key support
  • SUP 4: $23.524 - Low Dec 7, 2020

Silver traded lower last Tuesday confirming a resumption of the downtrend, but has staged a decent recovery since. Nonetheless, the rebound would need to proceed further to swing the outlook, which remains bearish. The recent price sequence of lower lows and lower highs continues to dominate. Attention is on $24.257, Apr 1 low and key support at $23.781, the Mar 31 low. Moving average studies also point south, reinforcing the current trend direction. Initial resistance is at $25.801, Jul 29 high.