Free Trial

SPOT SILVER: Off to the races as.......>

SILVER TECHS
SILVER TECHS: SPOT SILVER: Off to the races as price move sharply higher
*RES 4: $15.967 - High Feb 27
*RES 3: $15.766 - 76.4% retracement of the Feb 20-May 28 low
*RES 2: $15.640 - High March 21
*RES 1: $15.483 - 61.8% retracement of the Feb 20-May 28 low
*PRICE: $15.342 @ 08:28 BST Jun 20
*SUP 1: $15.126 - Low Jun 20 thus far
*SUP 2: $14.920 - Low Jun 19
*SUP 3: $14.876 - 50D EMA
*SUP 4: $14.775 - Low Jun 17
Silver has rallied sharply overnight in Asia confirming a resumption of the
bullish tone. Momentum studies are pointing north and the break of former
resistance at 15.170, the Jun 7 high signals scope for a continued rally in the
metal. The focus is now on the 61.8% retracement of the Feb 20-May 28 decline at
$15.483. On the downside, today's low thus far of $15.126 marks initial support.

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.