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Probes Resistance

SILVER TECHS
  • RES 4: $26.467 - High Jul 14
  • RES 3: $26.002 - High Aug 4 and a key resistance
  • RES 2: $25.206 - High Jun 8
  • RES 1: $25.128 - High Nov 10
  • PRICE: $24.908 @ 07:25 GMT Nov 11
  • SUP 1: $23.762/020 - 50-day EMA / Low Nov 3
  • SUP 2: $22.213 - Low Oct 6
  • SUP 3: $21.423 - Low Sep 29 and key support
  • SUP 4: $20.871 - 50.0% retracement of the Mar '20 - Feb '21 rally

Silver traded higher yesterday. Recent price action has defined key short-term directional triggers at; $23.020, Nov 3 low and $24.828, Oct 22 high. Resistance was probed yesterday, a clear breach would confirm a resumption of the underlying uptrend. This would open $25.206 initially, Jun 8 high. For bears, weakness through $23.020 would instead expose $22.213, Oct 6 low.

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