Free Trial

Trendline support holding *RES 4:......>

SILVER TECHS
SILVER TECHS: Trendline support holding
*RES 4: $19.747 - High week ending Sep 30, 2016
*RES 3: $19.653 - High Sep 4 and key resistance
*RES 2: $18.803 - High Sep 5
*RES 1: $18.313 - High Sep 9
*PRICE: $18.179 @ 07:31 BST Sep 11
*SUP 1: $17.776 - Low Sep 10
*SUP 2: $17.715 - Trendline support drawn off the Jul 12 low
*SUP 3: $17.512 - High Aug 13
*SUP 4: $16.983 - Low Aug 23
Silver continued to sell-off yesterday, reaching a low of $17.778 just ahead of
trendline support drawn off the Jul 12 low. The trendline intersects at $17.715
today. Thus far, silver is finding support with the trendline intact. Yday's
price action in candle terms is a doji and is a sign that downside momentum is
weakening. A strong recovery off $18.00 would represent a bullish signal. For
now, a break of the trendline is required to confirm the next leg lower.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.