MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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SILVER TECHS: Short-Term Structure Deteriorates

SILVER TECHS
  • RES 4: $35.736 - 1.236 proj of Jan 22 - Apr 12 - May 2 price swing        
  • RES 3: $35.226 - 50.0% of the Apr 2011 - Mar 2020 bear leg
  • RES 2: $33.880 - 1.00 proj of the Jan 22 - Apr 12 - May 2 price swing
  • RES 1: $32.518 - High May 20 and bull trigger               
  • PRICE: $27.895 @ 08:15 BST Jul 25
  • SUP 1: $27.741 Low Jul 25
  • SUP 2: $27.226 50% retracement for Feb - May Upleg
  • SUP 3: $26.018 - Low May 2 and a key support  
  • SUP 4: $24.328 - Low Mar 27

Silver slipped through further supports in a bearish overnight session, taking out the weekly lows and extending the negative response to the break of the 50-day EMA. $28.573, the Jun 26 low, has given way, opening $26.018 as the next key level. Any recovery and return higher would resume the bull cycle after the recent break of $30.853, the Jun 21 high.

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