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AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

USDCAD TECHS

Trend Structure Remains Bullish

US TSYS

Cautious Risk Appetite Gains Momentum

AUDUSD TECHS

Key Support Still Exposed

US STOCKS

Late Equity Roundup: 2W Highs

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Vulnerable Near-Term

SILVER TECHS
  • RES 4: $28.316 - High Sep 2
  • RES 3: $27.931 - High Jan 6 and a bull trigger
  • RES 2: $27.214 - High Jan 8
  • RES 1: $26.012 - 20-day EMA
  • PRICE: $25.074 @ 09:58 GMT Jan 11
  • SUP 1: $24.346 - Intraday low
  • SUP 2: $24.203 - 61.8% of the rally between Nov 30 and Jan 6
  • SUP 3: $23.702 - Trendline resistance drawn off the Aug 7 high
  • SUP 4: $23.323 - 76.4% of the rally between Nov 30 and Jan 6

Silver traded sharply lower Friday and appears vulnerable. The metal has traded through support at $24.977, Dec 21 low signalling scope for a deeper pullback. A move lower is considered a correction though. The next support is at $24.203, 61.8% of the rally between Nov 30 and Jan 6. A break of this level would expose the former trendline resistance drawn off the Aug 7 high. The line intersects at $23.702. Initial resistance is at $26.012.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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