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Southbound

SILVER TECHS
  • RES 4: $26.943 - High Mar 8 and the bull trigger
  • RES 3: $26.222 - High Apr 18 and a key short-term resistance
  • RES 2: $25.293 - High Apr 20
  • RES 1: $22.698/23.622 - 20-day EMA / 50-day EMA
  • PRICE: $21.045 @ 08:01 BST May 16
  • SUP 1: $20.464 - Low May 13
  • SUP 2: $20.282 - 2.00 proj of the Mar 8 - 29 - Apr 18 price swing
  • SUP 3: $20.000 - Psychological round number
  • SUP 4: $19.581 - 2.236 proj of the Mar 8 - 29 - Apr 18 price swing

Silver remains bearish and traded lower again Friday. Support at $22.008, the Feb 3 low and a bear trigger, was breached last week. The move lower reinforced the bearish theme and also resulted in a break of $21.427/423, the Dec 15 2021 low and Sep 29 2021 low. Sights are on $20.000 next. Firm short-term resistance is at $22.698, the 20-day EMA.

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