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Free AccessStruggling To Hold Support *RES 4:.....>
SILVER TECHS: Struggling To Hold Support
*RES 4: $15.671 - High July 26
*RES 3: $15.610 - High July 31
*RES 2: $15.554 - High August 3
*RES 1: $14.923 - 21-DMA
*PRICE: $14.606 @ 05:32 GMT
*SUP 1: $14.483 - Low August 23
*SUP 2: $14.338 - Low August 16
*SUP 3: $14.000 - Support
*SUP 4: $13.984 - Low August 26 2015
The Aug 23 low of $14.483 held yesterday but the recovery has been mild keeping
the focus on the downside. Bulls continue to face tough resistance at the 21-dma
and a break above here is needed to shift the outlook bullish. Failure of the
Aug 23 low to hold would allow a retest of the Aug 16 low at $14.338, and a
break below here would likely see an acceleration of the broader downtrend.
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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.