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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.
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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Focus Is On Bearish Engulfing Candle
- RES 4: $30.720 - 50% retracement of the 2011 - 2020 downtrend
- RES 3: $29.859 - High Aug 7 and the bull trigger
- RES 2: $29.272 - High Aug 11 and a key resistance
- RES 1: $28.471 - High Aig 18
- PRICE: $27.581 @ 07:04 BST Aug 19
- SUP 1: $25.748 - Low Aug 14
- SUP 2: $25.295 - Low Aug 13
- SUP 3: $23.448 - Low Aug 12 and key support
- SUP 4: $22.900 - 38.2% retracement of the Mar - Aug rally
Silver continued yesterday to claw back sizeable losses seen on Aug 11. Despite the recent strong recovery, the metal remains vulnerable with a band of firm resistance evident up to $29.272, Aug 11 high. Sharp losses on this day highlighted a bearish candle pattern, an engulfing line that signals a reversal and scope for a deeper sell-off. Bulls would need to clear $29.272 to offset the bearish risk. The bear trigger lies at $23.448, Aug 12 low.
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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.