Free Trial

Still Below 200-dma *RES 4: $16.216....>

SILVER TECHS
SILVER TECHS: Still Below 200-dma
*RES 4: $16.216 - High Feb 20
*RES 3: $15.640 - High March 21
*RES 2: $15.198 - 100-dma
*RES 1: $15.118 - High April 12
*PRICE: $14.877 @ 06:09 GMT Jun 7
*SUP 1: $14.581 - Former Channel Resistance
*SUP 2: $14.294 - Low May 28
*SUP 2: $14.140 - Channel base
*SUP 4: $14.054 - Low Nov 30
Silver has triggered a near term bearish signal, suggesting at least a
correction of the recent sharp gains. Failure to maintain the break above the
200-dma, followed by the reversal lower yesterday points to a retracement to
test the former channel resistance, now support at $14.581. Holding above here
will be essential to maintain the previous bullish breakout. A break above
$15.118 is now required to restore confidence in the bullish scenario.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.