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Trend Signal Remains Bullish

SILVER TECHS
  • RES 4: $26.002 - High Apr 19
  • RES 3: $25.293 - High Apr 20
  • RES 2: $24.729 - 76.4% retracement of the Mar - Sep bear leg
  • RES 1: $24.299 - High Dec 21
  • PRICE: $23.831 @ 07:55 GMT Dec 30
  • SUP 1: $22.557 - Low Dec 16 and key short-term support
  • SUP 2: $22.010 - 50-day EMA
  • SUP 3: $20.872 - Low Nov 28
  • SUP 4: $20.585 - Low Nov 21

The trend outlook in Silver remains bullish and moving average studies are in a bull mode position. Furthermore, recent fresh trend highs highlight a continuation of the bull cycle and this maintains the positive price sequence of higher highs and higher lows. The focus is on $24.729, a Fibonacci retracement. Key short-term support has been defined at $22.557, the Dec 16 low.

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