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Pullback Appears To Be A Correction

SILVER TECHS
Homepagemarkets-real-timeCommoditiesEnergy BulletsBulletEnergy Technical Analysis
  • RES 4: $26.753 - 1.618 proj of the Oct 3 - 20 - Nov 13 price swing
  • RES 3: $26.222 - High Apr 18 ‘22
  • RES 2: $26.135 - High May 5 ‘23 and a key M/T resistance
  • RES 1: $25.774 - High Mar 21
  • PRICE: $24.463 @ 08:02 GMT Mar 28
  • SUP 1: $24.381 - 20-day EMA
  • SUP 2: $23.811 - 50-day EMA
  • SUP 3: $22.277 - Low Feb 28
  • SUP 4: $21.928 - Low Jan 22 and a key support

The latest pullback in Silver appears to be a correction. Recent gains reinforce a bullish theme. Resistance at $25.761, Dec 4 high, has been pierced and a clear break would strengthen bullish conditions and expose key resistance at $26.135, May 5 ‘23 high. A move through this level would highlight an important technical break. Initial firm support lies at $24.381, the 20-day EMA. A clear break of it would expose the 50-day EMA, at $23.811.

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  • RES 4: $26.753 - 1.618 proj of the Oct 3 - 20 - Nov 13 price swing
  • RES 3: $26.222 - High Apr 18 ‘22
  • RES 2: $26.135 - High May 5 ‘23 and a key M/T resistance
  • RES 1: $25.774 - High Mar 21
  • PRICE: $24.463 @ 08:02 GMT Mar 28
  • SUP 1: $24.381 - 20-day EMA
  • SUP 2: $23.811 - 50-day EMA
  • SUP 3: $22.277 - Low Feb 28
  • SUP 4: $21.928 - Low Jan 22 and a key support

The latest pullback in Silver appears to be a correction. Recent gains reinforce a bullish theme. Resistance at $25.761, Dec 4 high, has been pierced and a clear break would strengthen bullish conditions and expose key resistance at $26.135, May 5 ‘23 high. A move through this level would highlight an important technical break. Initial firm support lies at $24.381, the 20-day EMA. A clear break of it would expose the 50-day EMA, at $23.811.