Free Trial

Sharp Slide Lower *RES 4: $18.635 -....>

SILVER TECHS
SILVER TECHS: Sharp Slide Lower
*RES 4: $18.635 - High Feb 25
*RES 3: $18.211 - High Feb 26
*RES 2: $17.868 - Intraday high
*RES 1: $17.453 - Low Feb 13
*PRICE: $17.129 @ 07:27 GMT Feb 28
*SUP 1: $17.056 - Intraday low
*SUP 2: $17.000 - Round number support
*SUP 3: $16.887 - Low Dec 18
*SUP 4: $17.773 - Low Dec 12
Silver has sold off sharply overnight clearing support at $17.352, the Jan 29
low. The sharp move lower confirms the recent bearish signal that followed the
failed attempt on Monday to clear resistance at the $18.740 level on a daily
closing basis. The inability to hold above $18.740 was a warning that downside
pressure may dominate S/T. The focus is on $17.000 next ahead of $16.887, the
Dec 18 low. Initial resistance is at $17.453, Feb 13 low.

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.