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EURJPY TECHS

Fails to Sustain Rally

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Still Appears Vulnerable

SILVER TECHS
  • RES 4: $24.666 - High Apr 22
  • RES 3: $23.974 - Low Mar 29
  • RES 2: $23.278 - High May 5
  • RES 1: $22.119/517 - 50-day EMA / High Jun 6 and key resistance
  • PRICE: $20.809 @ 08:07 BST Jun 30
  • SUP 1: $20.464 - Low May 13 and bear trigger
  • 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

The Silver outlook remains bearish and the metal continues to trade closer to its recent highs. A bearish threat follows the recent pullback from $22.517, the Jun 6 high. This also means the 50-day EMA, $22.119, remains intact. A clear breach of these two resistance points is required to highlight a short-term reversal. On the downside, attention is on key support at $20.464, May 13 low.

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  • RES 4: $24.666 - High Apr 22
  • RES 3: $23.974 - Low Mar 29
  • RES 2: $23.278 - High May 5
  • RES 1: $22.119/517 - 50-day EMA / High Jun 6 and key resistance
  • PRICE: $20.809 @ 08:07 BST Jun 30
  • SUP 1: $20.464 - Low May 13 and bear trigger
  • 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

The Silver outlook remains bearish and the metal continues to trade closer to its recent highs. A bearish threat follows the recent pullback from $22.517, the Jun 6 high. This also means the 50-day EMA, $22.119, remains intact. A clear breach of these two resistance points is required to highlight a short-term reversal. On the downside, attention is on key support at $20.464, May 13 low.