Free Trial

Range Breakout Weighs *RES 4:..........>

SILVER TECHS
SILVER TECHS: Range Breakout Weighs
*RES 4: $16.923 - High Mar 12
*RES 3: $16.530 - Low Dec 9 and former range base
*RES 2: $16.395 - Low Feb 28 and last week's breakout level
*RES 1: $15.883 - High Mar 13
*PRICE: $14.558 @ 07:12 GMT Mar 16
*SUP 1: $14.445 - Low Mar 13
*SUP 2: $14.294 - Low May 28, 2019
*SUP 3: $14.000 - Round number support
*SUP 4: $13.897 - Low Nov 14, 2018
Silver was down sharply again Friday. The bearish theme remains clearly intact
now that price has breached the key support at $16.530, Dec 9 low marking the
base of a broad range the metal has traded within since late Sep last year. The
breach of $16.395, Feb 28 low on Thursday and the subsequent slide paves the way
for a deeper sell-off with the next objective at $14.294, May 28 2019 low. A
break would open $1400.0. Initial resistance is at $15.883.

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.