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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
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Pierces Support
- RES 4: $35.736 - 1.236 proj of Jan 22 - Apr 12 - May 2 price swing
- RES 3: $35.226 - 50.0% of the Apr 2011 - Mar 2020 bear leg
- RES 2: $33.880 - 1.00 proj of the Jan 22 - Apr 12 - May 2 price swing
- RES 1: $30.853/32.518 - High May 20 and bull trigger / High Jun 21
- PRICE: $29.236 @ 08:07 BST Jun 28
- SUP 1: $28.573- Low Jun 26
- SUP 2: $27.971 - Low May 13
- SUP 3: $26.018 - Low May 2 and a key support
- SUP 4: $24.328 - Low Mar 27
Support in Silver at $28.659, the Jun 13 low and bear trigger, has been pierced. A clear break of it would strengthen a bearish theme and open $27.971, the May 13 low. Note that moving average studies remain in a bull-mode set-up. This highlights a medium-term uptrend and suggests that the bear leg since $32.518, is likely a correction. First resistance to watch is $30.853, the Jun 21 high.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.