Free Trial

Wedge Formation Intact *RES 4:.........>

SILVER TECHS
SILVER TECHS: Wedge Formation Intact
*RES 4: $15.825 - High Feb 28 
*RES 3: $15.640 - High Mar 21 
*RES 2: $15.343/378 - High Apr 9/55-dma 
*RES 1: $15.100 - Down trendline resistance 
*PRICE: $15.016 @ 05:59 GMT Apr 23 
*SUP 1: $14.855 - Low Apr 15 
*SUP 2: $14.783 - 61.8% retracement $13.897-16.216 
*SUP 3: $14.738 - Channel support 
*SUP 4: $14.719 - Low Dec 26 
Silver continues to trade in a falling wedge formation with bulls needing a
break above $15.100 to improve the outlook. Above here would target the April 9
high/55-dma at $15.343/378 ahead of the March 21 high at $15.640. To extend the
broader downtrend bears need to break below the April 15 low at $14.855 which
would bring the 61.8% retracement of $13.897-16.216 into focus at $14.783.

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.