MNI BRIEF: Brussels To Ease EU Fiscal Rules To Boost Defence

MNI China Daily Summary: Friday, February 14

MNI BRIEF: China Jan Yuan Loans, Financing Beat Expectations

MNI BRIEF: Brazil Outlook Demands 'Higher Doses Of Medicine'

CHINA JAN NEW LOANS CNY5.13 TRLN VS MEDIAN CNY4.53 TRL

MNI BRIEF: China Machinery Expects Stable Trade In 2025

BAKER HUGHES CANADA RIG COUNT 245; OIL RIGS 174; GAS RIGS 71

MNI: BAKER HUGHES US RIG COUNT 588; OIL RIGS 481; GAS RIGS 101

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

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SILVER TECHS: Northbound

SILVER TECHS
Metals bulletMetals Technical AnalysisCommodities TechBulletMarketsForeign Exchange BulletsCommodities
  • RES 4: $35.736 - 1.236 proj of the Feb 14 - Apr 12 - May 2 ‘24 swing 
  • RES 3: $34.903 - High Oct 23 and the bull trigger
  • RES 2: $34.000 - Round number resistance  
  • RES 1: $33.450 - 76.4% of the Oct 23 - Dec 19 ‘24 bear leg                                
  • PRICE: $33.188 @ 08:26 GMT Feb 14   
  • SUP 1: $31.469/005 - 20- and 50-day EMA values         
  • SUP 2: $29.704 - Low Jan 27 
  • SUP 3: $28.748 - Low Dec 19 and bear trigger
  • SUP 4: $28.446 - 76.4% retracement of the Aug 8 - Oct 23 bull cycle 

A bull theme in Silver remains intact and today’s strong rally reinforces current conditions. The break higher confirms a resumption of the bull cycle that started Dec 19 and sights are on $33.450, a Fibonacci retracement. Clearance of this level would further strengthen a bull theme. On the downside, key short-term support is seen at 31.006, the 50-day EMA. A clear breach of this level would highlight a potential reversal.

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  • RES 4: $35.736 - 1.236 proj of the Feb 14 - Apr 12 - May 2 ‘24 swing 
  • RES 3: $34.903 - High Oct 23 and the bull trigger
  • RES 2: $34.000 - Round number resistance  
  • RES 1: $33.450 - 76.4% of the Oct 23 - Dec 19 ‘24 bear leg                                
  • PRICE: $33.188 @ 08:26 GMT Feb 14   
  • SUP 1: $31.469/005 - 20- and 50-day EMA values         
  • SUP 2: $29.704 - Low Jan 27 
  • SUP 3: $28.748 - Low Dec 19 and bear trigger
  • SUP 4: $28.446 - 76.4% retracement of the Aug 8 - Oct 23 bull cycle 

A bull theme in Silver remains intact and today’s strong rally reinforces current conditions. The break higher confirms a resumption of the bull cycle that started Dec 19 and sights are on $33.450, a Fibonacci retracement. Clearance of this level would further strengthen a bull theme. On the downside, key short-term support is seen at 31.006, the 50-day EMA. A clear breach of this level would highlight a potential reversal.