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Probes The 20-day EMA

SILVER TECHS
  • RES 4: $27.081 - High Mar 1
  • RES 3: $26.636 - High Mar 18 and firm near-term resistance
  • RES 2: $25.752 - 50-day EMA
  • RES 1: $25.314 - 20-day EMA
  • PRICE: $25.326 @ 07:17 GMT Apr 8
  • SUP 1: $23.781 - Low Mar 31
  • SUP 2: $23.524 - Low Dec 7 and key near-term support
  • SUP 3: $22.591 - Low Dec 12
  • SUP 4: $21.899 - Low Nov 30 and a key support

Silver is holding onto recent gains following the recovery from $23.781, Mar 31 high and is traded higher today. Despite these recent gains, the outlook remains bearish and upticks are considered corrective. Recent weakness has opened $23.524, Dec 7 low and a key near-term support. On the upside, the 20-day EMA has been probed. An extension higher would open $25.728, the 50-day EMA.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
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