FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

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: $30.565 @ 07:28 BST Oct 10
  • SUP 1: $30.166 - 50-day EMA   
  • SUP 2: $29.489 - 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 $30.166. 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.     

170 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: $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: $30.565 @ 07:28 BST Oct 10
  • SUP 1: $30.166 - 50-day EMA   
  • SUP 2: $29.489 - 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 $30.166. 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.