MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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: Still Looking For Gains

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: $32.715 - High Sep 26                   
  • PRICE: $31.353 @ 08:06 BST Oct 2
  • SUP 1: $30.518/29.819 - 20- and 50-day EMA values   
  • SUP 2: $28.535 - Low Sep 12  
  • 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 last week’s climb reinforces this set-up. The metal has traded through resistance at $31.754, the Jul 11 high. Note too that price has pierced $32.518, the May 20 high and a key resistance. A clear break of this hurdle would confirm a resumption of the medium-term uptrend and open $33.297, a Fibonacci projection. Firm support lies at $29.819, the 50-day EMA.

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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: $32.715 - High Sep 26                   
  • PRICE: $31.353 @ 08:06 BST Oct 2
  • SUP 1: $30.518/29.819 - 20- and 50-day EMA values   
  • SUP 2: $28.535 - Low Sep 12  
  • 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 last week’s climb reinforces this set-up. The metal has traded through resistance at $31.754, the Jul 11 high. Note too that price has pierced $32.518, the May 20 high and a key resistance. A clear break of this hurdle would confirm a resumption of the medium-term uptrend and open $33.297, a Fibonacci projection. Firm support lies at $29.819, the 50-day EMA.