Free Trial

Pierces Support At The 20-Day EMA

SILVER TECHS
  • RES 4: $26.943 - High Mar 8 2022 and a key resistance
  • RES 3: $26.771 - High Mar 9 2022
  • RES 2: $26.222 - High Apr 18 2022 and a key resistance
  • RES 1: $26.088 - High Apr 14 and the bull trigger
  • PRICE: $24.941 @ 08:10 BST Apr 28
  • SUP 1: $24.492 - Low Apr 25
  • SUP 2: $23.798 - 50-day EMA
  • SUP 3: $23.572 - Low Apr 3
  • SUP 4: $22.828 - Low Mar 28

Silver remains in an uptrend and the recent pullback appears - for now - to be a correction. The recent break, on Apr 4, of resistance at $24.637, the Feb 2 high, confirmed a resumption of the bull trend that started early September 2022. This opens $26.222 next, the Apr 18 2022 high. On the downside, a key support to watch is seen at $24.730, the 20-day EMA. It has been pierced, a clear break would signal scope for a deeper (corrective) pullback.

To read the full story

Close

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.