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Trend Needle Points North

SILVER TECHS
  • RES 4: $26.222 - High Apr 18 2022 and a key resistance
  • RES 3: $26.135 - High May 5 and bull trigger
  • RES 2: $25.730 - 4.0% 10-dma envelope
  • RES 1: $25.267 - High Jul 20
  • PRICE: $24.962 @ 07:25 BST Jul 27
  • SUP 1: $24.206 - 20-day EMA
  • SUP 2: $23.892 - 50-day EMA
  • SUP 3: $23.109 - Low Jul 12
  • SUP 4: $22.527 - Low Jul 6

A bull cycle in Silver remains in play and the recent move lower appears to have been a correction. The next bull trigger has been defined at $25.267, the Jul 20 high. A break of this resistance would confirm a resumption of the uptrend that started on Jun 23, and pave the way for a climb towards $26.135, the May 5 high. On the downside, the support to watch lies at $23.892, the 50-day EMA.

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