Free Trial

Softer However Outlook Remains.........>

SILVER TECHS
SILVER TECHS: Softer However Outlook Remains Bullish
*RES 4: $16.157 - 61.8% retracement of the Feb 24 - Mar 18 decline
*RES 3: $16.000 - Round number resistance
*RES 2: $15.988 - High Apr 10
*RES 1: $15.599 - High Apr 16
*PRICE: $15.184 @ 07:10 BST Apr 17
*SUP 1: $15.064 - 20-day EMA
*SUP 2: $14.872 - Low Apr 8
*SUP 3: $14.728 - High Mar 25 and former breakout level
*SUP 4: $14.245 - Low Apr 6
Silver, while slightly softer is consolidating. A bullish theme remains in place
however. The metal rallied last week, clearing resistance at $14.728, Mar 25
high. The break confirmed a resumption of the uptrend since Mar 18. The focus is
on $16.000 next and $16.157, 61.8% retracement of the Feb 24 - Mar 18 decline.
There is potential too for a test of $16.395, the Feb 28 low, the base of a
former broad range. Support to watch is at $14.872.

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.