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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI: BOJ Tankan: Key Sentiment Rises, Solid Capex Plans
MNI ASIA OPEN: Weak 30Y Reopen, ECB Forward Guidance Weighing
MNI ASIA MARKETS ANALYSIS: Tsys Reverse Early Data Driven Gain
Pullback Considered Corrective
- RES 4: $26.002 - High Aug 4
- RES 3: $25.206 - High Jun 8
- RES 2: $24.867 - High Sep 3 and the reversal trigger
- RES 1: $24.828 - High Oct 22
- PRICE: $23.983 @ 07:21 BST Oct 27
- SUP 1: $23.015 - Low Oct 18
- 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
The current bull cycle in Silver remains intact and recent dips are considered corrective. The metal has recently cleared both the 20- and 50 day EMAs. The extension higher paves the way for $24.867, the Sep 3 high and a key near-term resistance. Clearance of this hurdle would strengthen the case for bulls and open the $26.00 handle. Initial firm support to watch is at $23.015, Oct 18 low. A break would threaten the current bullish theme.
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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.