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US Stock Futures Look to Test Week's Lows Ahead of NY Open

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  • RES 4: $25.206 - High Jun 8
  • RES 3: $24.867 - High Sep 3 and the reversal trigger
  • RES 2: $24.411 - High Sep 8
  • RES 1: $23.965 - High Sep 16
  • PRICE: $23.223 @ 07:29 BST Oct 18
  • SUP 1: $22.213 - Low Oct 6
  • SUP 2: $21.423 - Low Sep 29
  • SUP 3 : $20.871 - 50.0% retracement of the Mar '20 - Feb '21 rally
  • SUP 4: $19.851 - Low Jul 21, 2020

Silver is trading near recent highs. Last week the metal cleared the 20-day EMA and traded above the 50-day EMA. A continuation higher would pave the way for a stronger short-term recovery and open $23.965 next, the Sep 16 high. Clearance of this level would suggest potential for stronger gains towards $24.867, the Sep 3 high. This also marks a key short-term resistance. Initial firm support to watch is at $22.213, Oct 6 low.