Free Trial

(Z2) Heading South


(Z2) Bearish Theme Intact

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Trades Through Support

  • RES 4: $26.943 - High Mar 8 and the bull trigger
  • RES 3: $26.222 - High Apr 18 and a key short-term resistance
  • RES 2: $25.293 - High Apr 20
  • RES 1: $23.465/24.051.142 - 20-day EMA / 50-day EMA
  • PRICE: $22.035 @ 08:19 BST May 10
  • SUP 1: $21.695 - Low May 9
  • SUP 2: $21.427 - Low Dec 15 2021
  • SUP 3: $21.423 - Low Sep 29 2021
  • SUP 4: $20.983 - 1.764 proj of the Mar 8 - 29 - Apr 18 price swing

Silver remains bearish and the metal started the week on a softer note, trading lower yesterday. This resulted in a breach of support at $22.008, the Feb 3 low and a bear trigger. The move lower reinforces the bearish theme and signals scope for an extension towards $21.427, the Dec 15 2021 low, and $21.423, the Sep 29 2021 low. On the upside, firm short-term resistance has been defined at $23.465, the 20-day EMA.

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.