MNI China Daily Summary: Thursday, March 13

MNI BRIEF: China Has Been In Communication With U.S. On Trade

MNI BRIEF: China To Enhance Customs Clearance

MNI INTERVIEW2: Policy Lag Justifies Faster CNB Easing - Holub

MNI BRIEF: China Consumer Satisfaction Up

MNI: PBOC Net Drains CNY68.6 Bln via OMO Thursday

EZ/UK Bond Supply Calendar: SlovGB Auction Monday

US EIA:NAT GAS STORAGE -62 BCF TO 1,698 BCF MAR 07 WK

MNI: US FEB FINAL DEMAND PPI +0.0%, EX FOOD, ENERGY -0.1%

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

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SILVER TECHS: Holding On To Its Recent Gains

SILVER TECHS
Metals bulletMetals Technical AnalysisCommodities TechBulletMarketsForeign Exchange BulletsCommodities
  • RES 4: $34.903 - High Oct 23 and the bull trigger  
  • RES 3: $33.125 - High Nov 1 
  • RES 2: $32.338 - High Dec 12 and a key resistance  
  • RES 1: $30.974 - High Jan 16                              
  • PRICE: $30.839 @ 08:11 GMT Jan 24  
  • SUP 1: $29.509/28.748 - Low Jan 13 / Low Dec 19 and bear trigger        
  • SUP 2: $28.446 - 76.4% retracement of the Aug 8 - Oct 23 bull cycle 
  • SUP 3: $27.686 - Low Sep 6 
  • SUP 4: $26.451 - Low Aug 8  

A bear cycle in Silver that started Oct 23 remains in play - for now - and recent gains still appear to be corrective. The metal is holding on to its latest gains and this does suggest scope for a continuation near-term. An extension would expose key resistance at $32.338, the Dec 12 high. Clearance of this level would signal a reversal. On the downside, support to watch is $29.509, the Jan 13 low, and $29.748, the Dec 19 low and the bear trigger.

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  • RES 4: $34.903 - High Oct 23 and the bull trigger  
  • RES 3: $33.125 - High Nov 1 
  • RES 2: $32.338 - High Dec 12 and a key resistance  
  • RES 1: $30.974 - High Jan 16                              
  • PRICE: $30.839 @ 08:11 GMT Jan 24  
  • SUP 1: $29.509/28.748 - Low Jan 13 / Low Dec 19 and bear trigger        
  • SUP 2: $28.446 - 76.4% retracement of the Aug 8 - Oct 23 bull cycle 
  • SUP 3: $27.686 - Low Sep 6 
  • SUP 4: $26.451 - Low Aug 8  

A bear cycle in Silver that started Oct 23 remains in play - for now - and recent gains still appear to be corrective. The metal is holding on to its latest gains and this does suggest scope for a continuation near-term. An extension would expose key resistance at $32.338, the Dec 12 high. Clearance of this level would signal a reversal. On the downside, support to watch is $29.509, the Jan 13 low, and $29.748, the Dec 19 low and the bear trigger.