Free Trial

Downtrend Extends *RES 4:..............>

SILVER TECHS
SILVER TECHS: Downtrend Extends
*RES 4: $15.343/346 - High Apr 9/100-dma 
*RES 3: $15.110 - High Apr 26 
*RES 2: $14.929 - 200-dma
*RES 1: $14.793 - Down trendline resistance from Feb 20 high 
*PRICE: $14.526 @ 02:27 GMT May 17 
*SUP 1: $14.494 - Low Dec 14 
*SUP 2: $14.444 - 76.4% retracement of Nov-Feb rally 
*SUP 3: $14.054 - Low Nov 30 
*SUP 4: $13.897 - Low Nov 14 
Silver posted fresh ytd lows yesterday as risk on flows took the bid out of
precious metals. The next level of meaningful support comes in at the Dec 14 low
at $14.494 with a break opening the 76.4% retracement of the Nov-Feb rally just
below at $14.444. Bulls need to recover down trendline resistance from the Feb
20 high which comes in at $14.793. Above here would shift the outlook bullish
opening the 200-dma at $14.929.

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.