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Trend Signals Points North

SILVER TECHS
Metals bulletMetals Technical AnalysisHomepagemarkets-real-timeCommoditiesBulletMarketsForeign Exchange Bullets


  • RES 4: $35.745 - 1.236 proj of Jan 22 - Apr 12 - Nov 13 price swing
  • RES 3: $35.226 - 50.0% of the Apr 2011 - Mar 2020 bear leg
  • RES 2: $33.887 - 1.00 proj of the Jan 22 - Apr 12 - Nov 13 price swing
  • RES 1: $32.518 - High May 20
  • PRICE: $31190 @ 08:02 BST May 31
  • SUP 1: $30.079 - 20-day EMA
  • SUP 2: $29.797 - High Apr 12 and a recent breakout level
  • SUP 3: $28.272/26.018 - 50-day EMA / Low May 2
  • SUP 4: $24.328 - Low Mar 27

Silver maintains a bullish theme and the latest move down appears to have been a correction. The retracement has allowed an overbought condition to partially unwind. Recent gains resulted in a break of resistance at $29.797, the Apr 12 high. The breach confirmed a resumption of the uptrend and has opened $33.887 next, a Fibonacci projection. A key support zone to watch lies between $30.079-28.272, the 20- and 50-day EMA values.

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  • RES 4: $35.745 - 1.236 proj of Jan 22 - Apr 12 - Nov 13 price swing
  • RES 3: $35.226 - 50.0% of the Apr 2011 - Mar 2020 bear leg
  • RES 2: $33.887 - 1.00 proj of the Jan 22 - Apr 12 - Nov 13 price swing
  • RES 1: $32.518 - High May 20
  • PRICE: $31190 @ 08:02 BST May 31
  • SUP 1: $30.079 - 20-day EMA
  • SUP 2: $29.797 - High Apr 12 and a recent breakout level
  • SUP 3: $28.272/26.018 - 50-day EMA / Low May 2
  • SUP 4: $24.328 - Low Mar 27

Silver maintains a bullish theme and the latest move down appears to have been a correction. The retracement has allowed an overbought condition to partially unwind. Recent gains resulted in a break of resistance at $29.797, the Apr 12 high. The breach confirmed a resumption of the uptrend and has opened $33.887 next, a Fibonacci projection. A key support zone to watch lies between $30.079-28.272, the 20- and 50-day EMA values.