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Silver Streaks Higher as Retail Takes Aim

COMMODITIES

WTI and Brent crude futures trade higher so far Monday, with the futures contracts notching up 0.6-0.8% gains. This keeps prices above water and support at $54.40, Jan 22 low for Brent and WTI (H1) support at $51.44, Jan 22 low.

On the commodity front, Gold directional triggers remain at resistance at $1875.2, Jan 21 high and support at $1831.5, Jan 27 low.

Silver has surged higher today, gapping at the open as the retail target switched from single name stocks to silver. $30.00 has been tested, a clear break would open $30.723, 50.0% retracement of the 2011 - 2020 downtrend. Volatility is likely to remain elevated. Support lies at $27.931, Friday's high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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