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RUSSIA

USD/RUB Slips, Approaches April Lows

US 10YR FUTURE TECHS

‌‌(M1)‌‌ Resistance Remains Intact

OPTIONS

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  • RES 4: $29.053 - High Feb 2
  • RES 3: $28.498 - 61.8% retracement of the Feb 1 - 4 sell-off
  • RES 2: $28.328 - High Feb 23
  • RES 1: $27.595 - High Feb 26
  • PRICE: $26.193 @ 07:22 GMT Mar 2
  • SUP 1: $25.853 - Intraday low
  • SUP 2: $25.483 - 76.4% retracement of the Jan 18 - Feb 1 rally
  • SUP 3: $24.700 - Low Jan 27
  • SUP 4: $24.057 - Jan 18 low and a key support

Silver remains vulnerable following last week's bearish pressure. The metal traded lower yesterday and is weaker again today. The key near-term support at $25.905, Feb 4 low has been probed. Clearance of this support would set the scene for a deeper pullback and expose $25.483, 76.4% retracement of the Jan 18 - Feb 1 rally. Key resistance has been defined at $28.328, Feb 23 high where a break would likely trigger stronger gains.