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AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

USDCAD TECHS

Trend Structure Remains Bullish

US TSYS

Cautious Risk Appetite Gains Momentum

AUDUSD TECHS

Key Support Still Exposed

US STOCKS

Late Equity Roundup: 2W Highs

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SILVER TECHS
  • 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.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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