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Free AccessMNI UK Inflation Insight: October 2024
MNI UK Inflation Insight: October 2024
Still Looking For An Extension Lower...>
SILVER TECHS: Still Looking For An Extension Lower
*RES 4: $19.000 - Psychological round number
*RES 3: $18.860 - High Jan 6 and key resistance
*RES 2: $18.411 - 61.8% retracement of the Jan 8 - Jan 14 decline
*RES 1: $18.207 - High Jan 9
*PRICE: $18.014 @ 06:29 GMT Jan 17
*SUP 1: $17.685 - Low Jan 14
*SUP 2: $17.420 - 61.8% retracement of the Dec 9 - Jan 8 rally
*SUP 3: $17.173 - Low Dec 23
*SUP 4: $17.080 - 76.4% retracement of the Dec 9 - Jan 8 rally
Silver is still seen likely to remain vulnerable following the sharp reversal
off the Jan 8 high of $18.860. Price has also recently breached support at
$17.729, Dec 26 low to reinforce current bearish conditions and this paves the
way for a move towards $17.420, 61.8% retracement of the Dec 9 - Jan 8 rally. A
break of the latter would expose potential for a deeper decline. Initial
resistance is at $18.207 with key resistance defined at $18.860.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.