Free Trial

Still Need A Clear Trendline Break.....>

SILVER TECHS
SILVER TECHS: Still Need A Clear Trendline Break
*RES 4: $18.598 - 61.8% retracement of Sep 4 - Oct 1 decline
*RES 3: $18.338 - High Oct 25 and key resistance
*RES 2: $18.228 - High Nov 4
*RES 1: $18.097 - High Nov 5
*PRICE: $17.613 @ 07:17 GMT Nov 7
*SUP 1: $17.386 - Low Nov 6 and intraday bear trigger
*SUP 2: $17.168 - Low Oct 16
*SUP 3: $16.891 - Low Oct 1 and primary support
*SUP 4: $16.540 - Low Aug 13
Silver sold off sharply yesterday but did manage a strong recovery off the day
low. Yesterday's price did breach trendline support drawn off Oct 1 low. The
line intersected at $17.545. However, prices are back above the trendline and a
break of yesterday's low of $17.386 is needed to signal a resumption of
weakness. This would expose the Oct 16 low of $17.168 and the Oct 1 low of
$16.891. Initial resistance is at Tuesday's high of $18.097.

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.