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Outlook Remains Bullish

SILVER TECHS
  • RES 4: $28.328 - High Feb 23
  • RES 3: $27.686 - 61.8% retracement of the Feb 1 - Mar 31 sell-off
  • RES 2: $26.941 - 50.0% retracement of the Feb 1 - Mar 31 sell-off
  • RES 1: $26.645 - High Apr 21 and the bull trigger
  • PRICE: $25.935 @ 07:22 BST Apr 30
  • SUP 1: $25.636 - Low Apr 19
  • SUP 2: $25.199 - Low Apr 14
  • SUP 3: $24.686 - Low Apr 13 and a key support handle
  • SUP 4: $23.781 - Low Mar 31

Silver short-term bullish conditions remain in place following recent gains that started Mar 31.. The break higher on Apr 21 resulted in a probe of resistance at $26.636, Mar 18 high and a key near-term hurdle for bulls. A clear break of this level would strengthen a bullish case and open $26.941, a Fibonacci retracement. Key short-term support has been defined at $24.686, Apr 13 low. Initial support is at $25.636.

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