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Trades Above The 50-day EMA

SILVER TECHS
  • RES 4: $26.941 - 50.0% retracement of the Feb 1 - Mar 31 sell-off
  • RES 3: $26.636 - High Mar 18 and firm near-term resistance
  • RES 2: $26.318 - High Mar 19
  • RES 1: $25.987 - High Apr 15
  • PRICE: $25.810 @ 07:51 BST Apr 16
  • SUP 1: $24.686 - Low Apr 13
  • SUP 2: $23.781 - Low Mar 31
  • SUP 3: $23.524 - Low Dec 7 and key near-term support
  • SUP 4: $22.591 - Low Dec 12

Silver maintains this week's bullish phase and traded higher yesterday. The metal has cleared the 50-day EMA and this places on hold the recent bearish focus. The break higher signals scope for gains towards $26.636, Mar 18 high and a key near-term resistance. A break of this hurdle would strengthen a bullish case. On the downside, short-term support has been defined at $24.686, Apr 13 low.

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