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Pulls Away From Recent Highs

SILVER TECHS
  • RES 4: $26.780 - Trendline resistance drawn off the Aug 7 high
  • RES 3: $25.851 - Low Sep 8
  • RES 2: $25.562 - High Oct 12 and the near-term bull trigger
  • RES 1: $25.287 - High Oct 21
  • PRICE: $24.208 @ 07:19 BST Oct 26
  • SUP 1: $23.577 - Low Oct 15 and key near-term support
  • SUP 2: $22.878 - Low Oct 6
  • SUP 3: $21.677 - Low Sep 24 and the bear trigger
  • SUP 4: $20.751 - 38.2% retracement of the Mar - Aug rally

Silver is pulling away from recent highs. A bullish theme remains intact however attention is on support at $23.577, Oct 15 low. The recent break of resistance at $24.515 on Oct 9 confirmed a resumption of the uptrend that started Sep 24. Further gains would set the scene for a climb towards $25.851, Sep 8 low and trendline resistance at $26.724. The trendline is drawn off the Aug 7 high. A $23.577 break would be bearish.

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