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- RES 4: $28.609 - 76.4% retracement of the Feb 1 - Mar 31 sell-off
- RES 3: $28.328 - High Feb 23 and a key resistance
- RES 2: $27.686 - 61.8% retracement of the Feb 1 - Mar 31 sell-off
- RES 1: $27.547 - High May 6
- PRICE: $27.282 @ 07:15 BST May 7
- SUP 1: $26.169 - 20-day EMA
- SUP 2: $25.718 - Low Apr 29 and key near-term support
- SUP 3: $25.636 - Low Apr 19
- SUP 4: $25.199 - Low Apr 14
Silver remains bullish. The metal rallied Monday and again yesterday, extending the current upleg. This strengthens a bullish case and confirms a resumption of the recovery from Mar 31. With moving average signals also in a bull mode, further gains are likely towards $27.686 next, a Fibonacci retracement. On the downside, key short-term support has been defined at $25.718, Apr 29 low. A break is required to dampen the current bullish mood.