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Watching Support

SILVER TECHS
  • RES 4: $26.002 - High Aug 4
  • RES 3: $25.206 - High Jun 8
  • RES 2: $24.867 - High Sep 3 and the reversal trigger
  • RES 1: $24.094/828 - High Oct 29 / High Oct 22
  • PRICE: $23.876 @ 07:21 GMT Nov 5
  • SUP 1: $23.015 - Low Oct 18
  • SUP 2: $22.213 - Low Oct 6
  • SUP 3: $21.423 - Low Sep 29 and key support
  • SUP 4: $20.871 - 50.0% retracement of the Mar '20 - Feb '21 rally

Recent Silver weakness is weighing on the metal. The move lower has exposed support at $23.015, Oct 18 low. A break of this level would threaten the recent bullish theme and allow for a deeper pullback. This would open $22.213, Oct 6 low and suggest potential for weakness towards $21.423, the Sep 29 low. Key resistance has been defined at $24.828, the Oct 22 high. A break would instead strengthen the case for bulls.

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