MNI: EUROZONE DECEMBER CONSTRUCTION PMI 42.9 (NOV 42.7)

MNI China Press Digest Jan 7: CPI, New Loans, Local Bonds

MNI: PBOC Net Drains CNY150.6 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1879 Tues; -2.42% Y/Y

MNI China Daily Summary: Monday, January 6

MNI INTERVIEW2: China Central Gov Should Buy Unsold Houses

MNI: FRANCE DEC HICP +0.2% M/M, +1.8% Y/Y

MNI: SWISS DEC CPI -0.1% M/M, +0.6% Y/Y

MNI: AUSTRALIA NOV BUILDING APPROVALS -3.6% M/M, +3.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

SILVER TECHS: Bear Cycle Still In Play

SILVER TECHS
Metals bulletMetals Technical AnalysisCommodities TechBulletMarketsForeign Exchange BulletsCommodities
  • RES 4: $35.226 - 61.8% of the 2011 - 2020 major bear leg  
  • RES 3: $35.167 - 2.00 proj of the Aug 8 - 26 - Sep 6 price swing 
  • RES 2: $33.125/34.903 - High Nov 1 / High Oct 23 and the bull trigger
  • RES 1: $31.202/537 - 50-day EMA / High Nov 19                           
  • PRICE: 30.632 @ 08:08 GMT Nov 29 
  • SUP 1: $29.642 - Low Nov 28       
  • SUP 2: $28.446 - 76.4% retracement of the Aug 8 - Oct 23 bull cycle 
  • SUP 3: $27.686 - Low Sep 6 
  • SUP 4: $26.451 - Low Aug 8  

Medium-term conditions in Silver remain bullish and the bear cycle that started on Oct 23 still appears to be a correction. This corrective cycle remains in play. Price has recently breached the 20- and 50-day EMAs, and traded through a trendline drawn from the Aug 8 low. A resumption of the bear leg would open $28.446, a Fibonacci retracement. Initial firm resistance to watch is $31.202, the 50-day EMA.

166 words

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.
  • RES 4: $35.226 - 61.8% of the 2011 - 2020 major bear leg  
  • RES 3: $35.167 - 2.00 proj of the Aug 8 - 26 - Sep 6 price swing 
  • RES 2: $33.125/34.903 - High Nov 1 / High Oct 23 and the bull trigger
  • RES 1: $31.202/537 - 50-day EMA / High Nov 19                           
  • PRICE: 30.632 @ 08:08 GMT Nov 29 
  • SUP 1: $29.642 - Low Nov 28       
  • SUP 2: $28.446 - 76.4% retracement of the Aug 8 - Oct 23 bull cycle 
  • SUP 3: $27.686 - Low Sep 6 
  • SUP 4: $26.451 - Low Aug 8  

Medium-term conditions in Silver remain bullish and the bear cycle that started on Oct 23 still appears to be a correction. This corrective cycle remains in play. Price has recently breached the 20- and 50-day EMAs, and traded through a trendline drawn from the Aug 8 low. A resumption of the bear leg would open $28.446, a Fibonacci retracement. Initial firm resistance to watch is $31.202, the 50-day EMA.