Free Trial

Pullback Considered A Correction.......>

SILVER TECHS
SILVER TECHS: Pullback Considered A Correction
*RES 4: $18.671 - High Feb 25
*RES 3: $18.382 - High Jun 1 and the bull trigger
*RES 2: $18.093 - High Jun 2
*RES 1: $17.858 - High Jun 4
*PRICE: $17.637 @ 07:56 BST Jun 9
*SUP 1: $17.227 - Low Jun 5
*SUP 2: $17.154 - 20-day EMA
*SUP 3: $16.735 - Low May 22 and key support
*SUP 4: $16.699 - Trendline support drawn off the Mar 18 low
Although off recent highs, Silver remains bullish having rallied sharply higher
on May 29 and Jun 1. The break above $17.625, May 20 high, confirmed a
resumption of the current bull trend and attention is on resistance at $18.671,
Feb 25 high and the key resistance parameter at $18.948, Feb 24 high. On the
downside, initial support is at Friday's $17.227 low ahead of the 20-day EMA at
$17.154. Key trendline support lies at $16.699, drawn off the Mar 18 low.

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.