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Impulsive Bull Cycle Remains Intact

SILVER TECHS
Metals bulletMetals Technical AnalysisHomepagemarkets-real-timeCommoditiesBulletMarketsForeign Exchange Bullets
  • RES 4: $35.745 - 1.236 proj of Jan 22 - Apr 12 - Nov 13 price swing
  • RES 3: $35.226 - 50.0% of the Apr 2011 - Mar 2020 bear leg
  • RES 2: $33.887 - 1.00 proj of the Jan 22 - Apr 12 - Nov 13 price swing
  • RES 1: $32.518 - High May 20
  • PRICE: $31.841 @ 08:02 BST May 22
  • SUP 1: $29.797 - High Apr 12 and a recent breakout level
  • SUP 2: $28.895 - 20-day EMA
  • SUP 3: $27.329/018 - 50-day EMA / Low May 2
  • SUP 4: $24.328 - Low Mar 27

Silver maintains a bullish theme and the metal is trading at its recent highs. Last week’s rally resulted in a clear break of resistance at $29.797, the Apr 12 high. The breach confirmed a resumption of the uptrend and sights are on $33.887 next, a Fibonacci projection. Short-term pullbacks would be considered correction. A key support zone lies between $28.895-27.329, the 20- and 50-day EMA values.

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  • RES 4: $35.745 - 1.236 proj of Jan 22 - Apr 12 - Nov 13 price swing
  • RES 3: $35.226 - 50.0% of the Apr 2011 - Mar 2020 bear leg
  • RES 2: $33.887 - 1.00 proj of the Jan 22 - Apr 12 - Nov 13 price swing
  • RES 1: $32.518 - High May 20
  • PRICE: $31.841 @ 08:02 BST May 22
  • SUP 1: $29.797 - High Apr 12 and a recent breakout level
  • SUP 2: $28.895 - 20-day EMA
  • SUP 3: $27.329/018 - 50-day EMA / Low May 2
  • SUP 4: $24.328 - Low Mar 27

Silver maintains a bullish theme and the metal is trading at its recent highs. Last week’s rally resulted in a clear break of resistance at $29.797, the Apr 12 high. The breach confirmed a resumption of the uptrend and sights are on $33.887 next, a Fibonacci projection. Short-term pullbacks would be considered correction. A key support zone lies between $28.895-27.329, the 20- and 50-day EMA values.