MNI China Daily Summary: Thursday, November 21

MNI BRIEF: China To Enhance Support For Foreign Trade - MOFCOM

MNI BRIEF: China To Step Up Trade Bloc Negotiations

MNI BRIEF: Yuan's Global Payment Share Falls Again In October

MNI: PBOC Net Injects CNY141.9 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1934 Thurs; -0.93% Y/Y

MNI: UK NOV CBI INDUSTRIAL TRENDS TOTAL ORDERS -19

MNI: FRANCE NOV MANUF SENTIMENT AT 97

MNI: UK OCT PSNCR GBP11.13 BN

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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SILVER TECHS: Corrective Phase

SILVER TECHS
Metals bulletMetals Technical AnalysisCommodities TechBulletMarketsForeign Exchange BulletsCommodities
  • RES 4: $33.738 - 1.618 proj of the Aug 8 - 26 - Sep 6 price swing    
  • RES 3: $33.297 - 1.50 proj of the Aug 8 - 26 - Sep 6 price swing 
  • RES 2: $33.000 - Round number resistance  
  • RES 1: $31.778/32.963 - High Oct 8 / 4 and the bull trigger                    
  • PRICE: $30.442 @ 08:12 BST Oct 9
  • SUP 1: $30.153 - 50-day EMA   
  • SUP 2: $29.036 - Trendline support drawn from the Aug 8 low   
  • SUP 3: $27.686 - Low Sep 6 and a key support  
  • SUP 4: $27.180 - Low Aug 14

Bullish conditions in Silver remain intact and short-term weakness is considered corrective. This week’s move down has resulted in a break of the 20-day EMA. Attention turns to support at the 50-day EMA, at $30.153. A clear break of this EMA would undermine a bullish theme and signal scope for a deeper retracement. On the upside, a reversal higher would signal the end of the correction and refocus attention on $32.963, the Oct 4 high. 

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  • RES 4: $33.738 - 1.618 proj of the Aug 8 - 26 - Sep 6 price swing    
  • RES 3: $33.297 - 1.50 proj of the Aug 8 - 26 - Sep 6 price swing 
  • RES 2: $33.000 - Round number resistance  
  • RES 1: $31.778/32.963 - High Oct 8 / 4 and the bull trigger                    
  • PRICE: $30.442 @ 08:12 BST Oct 9
  • SUP 1: $30.153 - 50-day EMA   
  • SUP 2: $29.036 - Trendline support drawn from the Aug 8 low   
  • SUP 3: $27.686 - Low Sep 6 and a key support  
  • SUP 4: $27.180 - Low Aug 14

Bullish conditions in Silver remain intact and short-term weakness is considered corrective. This week’s move down has resulted in a break of the 20-day EMA. Attention turns to support at the 50-day EMA, at $30.153. A clear break of this EMA would undermine a bullish theme and signal scope for a deeper retracement. On the upside, a reversal higher would signal the end of the correction and refocus attention on $32.963, the Oct 4 high.