SILVER TECHS: Bullish Trend Condition
- RES 4: $34.903 - High Oct 23 and the bull trigger
- RES 3: $33.450 - 76.4% of the Oct 23 - Dec 19 ‘24 bear leg
- RES 2: $33.000 - Round number resistance
- RES 1: $32.652 - High Feb 7
- PRICE: $31.902 @ 08:05 GMT Feb 12
- SUP 1: $30.814 - 50-day EMA
- SUP 2: $29.704 - Low Jan 27
- SUP 3: $28.748 - Low Dec 19 and bear trigger
- SUP 4: $28.446 - 76.4% retracement of the Aug 8 - Oct 23 bull cycle
Key resistance in Silver at $32.338, the Dec 12 high, has been pierced. Clearance of this hurdle would highlight a stronger reversal and cancel a recent bearish theme. This would open the $33.00 handle and expose $33.450, a Fibonacci retracement. Initial firm support lies at $30.900, the 50-day EMA and a pivot level. A clear break of the EMA would reinstate the recent bearish theme.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EURJPY TECHS: Trades Through Support
- RES 4: 164.90 THigh Dec 30 and a key short-term resistance
- RES 3: 164.55 High Jan 7
- RES 2: 163.43 High Jan 9
- RES 1: 162.55 20-day EMA
- PRICE: 160.89 @ 08:03 GMT Jan 13
- SUP 1: 160.65 Intraday low
- SUP 2: 160.54 50.0% retracement of the Dec 3 - 30 bull cycle
- SUP 3: 159.51 61.8% retracement of the Dec 3 - 30 bull cycle
- SUP 4: 158.67 Low Dec 11
The recent move down in EURJPY appears corrective, however the cross is again trading lower, today, and this has resulted in a breach of initial support at 160.91, the Jan 2 low. The next support to watch is 160.54, 50.0% of the Dec 3 - 30 bull cycle. The 61.8% level is at 159.51. A reversal higher would signal the end of the corrective cycle and refocus attention on 164.90, the Dec 30 high.
GILTS: Opening calls
Gilt calls, 89.26/89.30.
EQUITIES: EU Cash opening calls
- Estox 50: -0.43%, Dax: -0.14%, CAC: -0.45%, FTSE -0.00%, SMI -0.12%.
VGH5 (Estoxx) has been falling in the past hour and hovers at session low.
