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USDCAD TECHS

Pullback Considered Corrective

AUDUSD TECHS

Holding Above Recent Lows

US EURODLR OPTIONS

BLOCK, Large 3Y Midcurve Put Condor

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  • RES 4: $27.831 - High Jun 16
  • RES 3: $26.775/27.245 - High Jul 6 and key resistance / High Jun 17
  • RES 2: $26.467 - High Jul 14
  • RES 1: $26.002 - High Aug 04
  • PRICE: $25.413 @ 16:08 BST Aug 04
  • SUP 1: $24.496 - Low Jul 28
  • SUP 2: $24.257 - Low Apr 1
  • SUP 3: $23.781 - Low Mar 31and key support
  • SUP 4: $23.524 - Low Dec 7, 2020

Silver gave up early gains Wednesday, reverting lower after touching multi-week highs. Nonetheless, any rebounds need to proceed further to swing the outlook, which remains bearish. The recent price sequence of lower lows and lower highs continues to dominate. Attention is on $24.257, Apr 1 low and key support at $23.781, the Mar 31 low. Moving average studies also point south, reinforcing the current trend direction. Initial resistance is at $26.467, Jul 14 high.