Free Trial

Layers of Resistance $16.902-17.109....>

SILVER TECHS
SILVER TECHS: Layers of Resistance $16.902-17.109 Key
*RES 4: $17.109 - 200-DMA
*RES 3: $17.067 - 100-DMA
*RES 2: $16.902 - High June 29 
*RES 1: $16.771 - Hourly resistance Aug 2
*PRICE: $16.668 @ 0430GMT
*SUP 1: $16.600 - Hourly resistance Aug 3 now support
*SUP 2: $16.435 - Low Aug 3
*SUP 3: $16.267 - 21-DMA
*SUP 4: $16.150 - Low July 20
*COMMENTARY: The break of $16.480 lacked follow through although layers of
resistance $16.902-17.109 remain key. Bulls continue to look for a close above
the 200-DMA to reconfirm a bullish bias and shift focus to $17.497-749 where key
WMAs and June highs are located. While $16.902 caps bears retain an advantage
but now need a close below $16.150 to end bullish hopes and shift focus back to
$15.123-618 where 2017 lows are noted.

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.