Free Trial

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

SILVER TECHS
SILVER TECHS: Trendline support intact
*RES 4: $18.218 - High Sep 8 2017
*RES 3: $18.000 - Psychological round number
*RES 2: $17.704 - High Jan 25 2018
*RES 1: $17.512 - High Aug 13
*PRICE: $17.085 @ 07:37 BST Aug 21
*SUP 1: $16.723/540 - Trendline support drawn off the Jul 12 low / Low Aug 13
*SUP 2: $16.660 - High Jul 25
*SUP 3: $16.540 - Low Aug 13 and key support
*SUP 4: $16.358 - Low Aug 6
Silver maintains its underlying bullish tone.The price sequence of higher highs
and higher lows continues to dominate and while this holds, the focus is on
further gains. Potential is for a climb towards $17.704, the Jan 25, 2018 high.
Initial resistance and the trigger for bulls is last Tuesday's high of $17.512.
Support lies at the trendline, today at $16.723 and $16.540, the Aug 13 low. A
break would instead signal the start of a correction.

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.