Free Trial

Key Support Exposed *RES 4: $18.671....>

SILVER TECHS
SILVER TECHS: Key Support Exposed
*RES 4: $18.671 - High Feb 25
*RES 3: $18.211 - High Feb 26
*RES 2: $17.868 - High Feb 28
*RES 1: $17.607 - High Mar 6
*PRICE: $16.825 @ 07:42 GMT Mar 9
*SUP 1: $16.574 - Intraday low
*SUP 2: $16.395 - Low Feb 28 and the bear trigger
*SUP 3: $16.120 - Low Aug 5
*SUP 4: $15.924 - Low Aug and key support
Silver recently tested the base of its range around the $16.530 handle on Feb
28. The metal has been unable though to confirm a clear break of $17.500. This
would have signalled scope for stronger recovery within the range towards
$18.000 and the range top at $18.743 further out. On the downside, the focus
returns to support at $16.395, the Feb 28 low and the key support. A break would
confirm a range breakout and represent an important bearish development.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.