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Tops Resistance

SILVER TECHS
  • RES 4: $27.831 - High Jun 16 2021
  • RES 3: $27.245 - High Jun 17 2021
  • RES 2: $26.943 - High Mar 8 and the bull trigger
  • RES 1: $26.222 - High Apr 18
  • PRICE: $26.122 @ 14:08 BST Apr 18
  • SUP 1: $24.631/23.974 - 50-day EMA / Low Mar 29 and bear trigger
  • SUP 2: $23.850 - Low Feb 24
  • SUP 3: $23.173 76.4% retracement of the Feb 3 - Mar 8 rally
  • SUP 4: $23.082 - Low Feb 15

Silver resistance $25.847, Mar 24 high, has been topped. The metal has traded higher in recent sessions and this means that it has recently found support at the 50-day EMA - at $24.631. The clear break of $25.847 represents a bullish development and signals potential for a climb towards $26.943, the Mar 8 high and a bull trigger. Key support below the 50-day EMA has been defined at $23.974, the Feb 24 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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