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Heading North

SILVER TECHS
  • RES 4: $30.100 - Feb 2021 high and a key resistance
  • RES 3: $29.052 - 2.382 proj of the Oct 3 - 20 - Nov 13 price swing
  • RES 2: $28.613 - 2.236 proj of the Oct 3 - 20 - Nov 13 price swing
  • RES 1: $28.085 - Intraday high
  • PRICE: $27.755 @ 08:10 GMT Apr 8
  • SUP 1: $25.315 - 20-day EMA
  • SUP 2: $24.353/328 - 50-day EMA / Low Mar 27
  • SUP 3: $22.277 - Low Feb 28
  • SUP 4: $21.928 - Low Jan 22 and a key support

Silver rallied sharply higher this week and is firmer again today. The latest rally has resulted in a clear break of 25.761, the Dec 4 high, strengthening bullish conditions. Note that key resistance at $26.135, May 5 ‘23 high, has also been cleared highlighting an important technical break. Sights are on $28.613 a Fibonacci projection point. Key support lies at $24.328, the Mar 27 low.

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