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Northbound

SILVER TECHS
  • RES 4: $26.397 - 1.50 proj of the Oct 3 - 20 - Nov 13 price swing
  • RES 3: $26.222 - High Apr 18 2022
  • RES 2: $26.135 - High May 5 and a key resistance
  • RES 1: $25.761 - Intraday high
  • PRICE: $25.179 @ 08:43 GMT Dec 4
  • SUP 1: $24.017/23.437 - 20- and 50-day EMA values
  • 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 bulls remain in the driver’s seat following last week’s gains. The break higher maintains the current positive price sequence of higher highs and higher lows and moving average studies have crossed and are currently in a bull-mode position. This reinforces current bullish conditions. The focus is on $26.135, the May 5 high and a key resistance. Initial firm support lies at $24.017, the 20-day EMA.

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