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TUZ1 Given

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Futures Tight In the Tokyo Morning

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  • RES 4: $25.206 - High Jun 8
  • RES 3: $24.867 - High Sep3
  • RES 2: $24.411 - High Sep 8
  • RES 1: $23.910 - 20-Day EMA
  • PRICE: $22.957 @ 07:22 BST Sep 17
  • SUP 1: $22.604 - Low Sep 16
  • SUP 2: $21.899 - Low Nov 30, 2020
  • SUP 3: $21.677 - Low Sep 24
  • SUP 4: $20.871 - 50.0% retracement of the Mar '20 - Feb '21 rally

Silver remains bearish following yesterday's sharp losses that resulted in a print below support at $22.626, Aug 9 low. A bearish theme was recently reinforced following the failure to clear the 50-day EMA that continues to provide resistance. Yesterday's sell-off confirms a resumption of the downtrend. The focus is on $21.899 next, the Nov 30, 2020 low. Key trend resistance has been defined at $24.867, Sep 3 high.