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Corrective Pullback

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Gains Considered Corrective

SILVER TECHS
  • RES 4: $27.081 - High Mar 1
  • RES 3: $26.636 - High Mar 18 and firm near-term resistance
  • RES 2: $25.826 - High Mar 23
  • RES 1: $25.257 - High Mar 26
  • PRICE: $24.960 @ 09:25 GMT Apr 6
  • SUP 1: $23.781 - Low Mar 31
  • SUP 2: $23.524 - Low Dec 7 and key near-term support
  • SUP 3: $22.591 - Low Dec 12
  • SUP 4: $21.899 - Low Nov 30 and a key support

Silver is holding onto recent gains following the recovery from $23.781, Mar 31 high. The outlook remains bearish and upticks are considered corrective. Recent weakness has opened $23.524, Dec 7 low and a key near-term support. On the upside, initial firm resistance is seen at $25.257, Mar 26 high. Key short-term resistance has been defined at $26.636, Mar 18 high. A break of this level is required to alter the picture.

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

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