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Mid-week Pullback Flips Outlook Neutral

SILVER TECHS
  • RES 4: $26.222 - High Apr 18 2022
  • RES 3: $26.135 - High May 5 and a key resistance
  • RES 2: $25.761 - High Dec 4 and key resistance
  • RES 1: $24.606/994 - High Dec 22 / 76.4% of Dec 4 - 13 bear leg
  • PRICE: $23.020 @ 08:35 GMT Jan 04
  • SUP 1: $22.510 - Low Dec 13 and key short-term support
  • SUP 2: $21.883 - Low Nov 13 and a key support
  • SUP 3: $20.689 - Low Oct 3 and the bear trigger
  • SUP 4: $19.904 - Low Mar 10 and a key support

Silver faded into the Wednesday close, however nearby support remains untroubled for now. Nonetheless, the short-term outlook appears more neutral as price operates between $24.994, a Fibonacci retracement to the upside, as well as key resistance at $25.761, the Dec 4 high. Key support lies at $22.510, the Dec 13 low.

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