Free Trial

Double Bottom Potential Rising *RES....>

SILVER TECHS
SILVER TECHS: Double Bottom Potential Rising
*RES 4: $16.055 - Low May 1
*RES 3: $15.554 - High Aug 3, 200-dma
*RES 2: $15.001 - High Aug 28 
*RES 1: $14.915 - High Nov 2 
*PRICE: $14.607 @ 06:15 GMT 
*SUP 1: $13.897 - Low Nov 14 
*SUP 2: $13.648 - Low Dec 15 2015 
*SUP 3: $13.000 - Support 
*SUP 4: $12.458 - Low Jul 17, 2009 
Silver broke above the $14.50 level on Friday to shift the focus towards the Nov
2 high at $14.915 ahead of the Aug 28 high. The potential for a double bottom is
growing in part due to the strong rally in gold.  Bears remain focused on the
Nov 14 low at $13.897. Below here would allow a challenge of the Dec 2015 lows
at $13.640.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.