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EURJPY TECHS

Corrective Pullback

US EURODLR OPTIONS

Light Upside Call Spds

USDJPY TECHS

Dips Considered Corrective

EURGBP TECHS

Trend Signals Remain Bearish

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  • RES 4: $25.206 - High Jun 8
  • RES 3: $24.867 - High Sep 3 and the reversal trigger
  • RES 2: $23.438 - 50-day EMA
  • RES 1: $23.249 - High Oct 13
  • PRICE: $23.179 @ 07:30 BST Oct 14
  • SUP 1: $22.213 - Low Oct 6
  • SUP 2: $21.423 - Low Sep 29
  • SUP 3 : $20.871 - 50.0% retracement of the Mar '20 - Feb '21 rally
  • SUP 4: $19.851 - Low Jul 21, 2020

Silver traded higher yesterday but remains in a consolidation mode. A bearish theme remains intact and gains are considered corrective. The metal broke lower Sep 29 and cleared $22.039, Sep 20 low. This confirmed a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs, paving the way for an extension towards $20.871, a Fibonacci retracement. Key near-term resistance is at $23.438, the 50-day EMA.