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Off Recent Highs

SILVER TECHS
  • RES 4: $26.636 - High Mar 18 and firm near-term resistance
  • RES 3: $26.318 - High Mar 19
  • RES 2: $25.668 - 50-day EMA
  • RES 1: $25.617 - High Apr 8
  • PRICE: $24.876 @ 07:23 BST Apr 13
  • SUP 1: $24.617 - Low Apr 5
  • SUP 2: $23.781 - Low Mar 31
  • SUP 3: $23.524 - Low Dec 7 and key near-term support
  • SUP 4: $22.591 - Low Dec 12

Silver is pulling away from recent highs and resistance has been defined at $25.617, Apr 8 high. Despite recent gains, the outlook remains bearish and upticks are considered corrective. Recent bearish activity has opened $23.524, Dec 7 low and a key near-term support. On the upside, the 20-day EMA has been probed. An extension higher would expose $25.668, the 50-day EMA. Clearance of the average would be a bullish development.

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