Free Trial

Lacks Follow Through Above 200-DMA.....>

SILVER TECHS
SILVER TECHS: Lacks Follow Through Above 200-DMA
*RES 4: $17.315 - 100-WMA 
*RES 3: $17.119 - Hourly resistance Apr 23 
*RES 2: $17.020 - Low Apr 20 now resistance 
*RES 1: $16.835 - High May 11
*PRICE: $16.706 @ 0430GMT
*SUP 1: $16.553 - Hourly resistance May 10 now support
*SUP 2: $16.330 - Low May 8
*SUP 3: $16.200 - Hourly resistance May 1 now support
*SUP 4: $16.040 - 2018 Low May 1
*COMMENTARY: Pressure resulted in a pop above the 200-DMA ($16.793) but follow
through has been lacking once again. Bulls now need a close above $16.835 to
confirm a break of teh200-DMA and to shift focus back to $17.020-394 where Apr
highs and the 100-WMA are noted. Bears continue to look for a close below
$16.553 to ease pressure on the 200-DMA and below $16.330 to pressure 2018 lows.

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.