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SILVER TECHS
Metals Technical AnalysisMetals bulletHomepagemarkets-real-timeCommoditiesBulletMarketsForeign Exchange News
  • RES 4: $26.771 - High Mar 9 2022
  • RES 3: $26.222 - High Apr 18 2022 and a key resistance
  • RES 2: $26.135 - High May 5
  • RES 1: $24.492 - Apr 25 low and double top mid-point
  • PRICE: $23.734 @ 07:53 BST May 17
  • SUP 1: $23.572 - Low Apr 3
  • SUP 2: $23.238 - Low Mar 30
  • SUP 3: $22.761 - Low Mar 23
  • SUP 4: $22.284 - 61.8% retracement of the Mar 10 - May 5 rally

Silver remains bearish, and traded lower yesterday. Last week’s sell-off confirmed a short-term top plus a double top reversal following the break of $24.492, Apr 25 low. The metal has also breached the 20- and 50-day EMAs. This signals scope for a move towards $23.238, the Mar 30 low. Initial resistance is seen at $24.492, the double top mid-point. Key resistance has been defined at $26.135, the May 5 high.

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  • RES 4: $26.771 - High Mar 9 2022
  • RES 3: $26.222 - High Apr 18 2022 and a key resistance
  • RES 2: $26.135 - High May 5
  • RES 1: $24.492 - Apr 25 low and double top mid-point
  • PRICE: $23.734 @ 07:53 BST May 17
  • SUP 1: $23.572 - Low Apr 3
  • SUP 2: $23.238 - Low Mar 30
  • SUP 3: $22.761 - Low Mar 23
  • SUP 4: $22.284 - 61.8% retracement of the Mar 10 - May 5 rally

Silver remains bearish, and traded lower yesterday. Last week’s sell-off confirmed a short-term top plus a double top reversal following the break of $24.492, Apr 25 low. The metal has also breached the 20- and 50-day EMAs. This signals scope for a move towards $23.238, the Mar 30 low. Initial resistance is seen at $24.492, the double top mid-point. Key resistance has been defined at $26.135, the May 5 high.