Free Trial

Firm Uptrend *RES 4: $20.000 -.........>

SILVER TECHS
SILVER TECHS: Firm Uptrend
*RES 4: $20.000 - Psychological round number
*RES 3: $19.918 - 1.236 projection of Mar 18 - Apr 10 rally from Apr 21 low
*RES 2: $19.602 - High Sep 5, 2019
*RES 1: $19.475 - High Jul 15
*PRICE: $19.221 @ 07:05 BST Jul 16
*SUP 1: $18.877 - Low Jul 14
*SUP 2: $18.487 - Low Jul 9
*SUP 3: $18.360 - 20-day EMA
*SUP 4: $17.994 - Low Jul 7
Silver maintains its current impulsive bullish tone. The metal registered a new
trend high yesterday at $19.475. This reinforces the underlying bullish tone
that follows last week's break of former resistance at $18.450, Jul 1 high and
more importantly, price also recently traded through $18.948, Feb 24 high. This
represents an important technical breach and opens $19.650 further out, Sep 4
2019 high. On the downside, $18.487 marks initial support, Jul 9 low.

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.