SILVER TECHS: Fresh Cycle Highs

• RES 4: 0.6471 High Dec 9 ‘24 
• RES 3: 0.6429 High Dec 12 ‘24               
• RES 2: 0.6414 38.2% retracement of the Sep 30 ‘24 - Feb 3 bear leg 
• RES 1: 0.6409 High Feb 21
• PRICE: 0.6328 @ 08:01 GMT Feb 26
• SUP 1: 0.6316/6231 50-day EMA / Low Feb 10 
• SUP 3: 0.6171/6088 Low Feb 4 / 3
• SUP 3: 0.6045 1.500 proj of the Sep 30 - Nov 6 - 7 price swing
• SUP 4: 0.6000 Round number support

The latest pullback in AUDUSD appears corrective and a bullish condition is intact. Sights are on key resistance at 0.6402/14 - the 100-dma and 38.2% of the Sep 30 ‘24 - Feb 3 bear leg respectively. A clear break of both levels would set the scene for the next leg higher, making 0.6429 the next target, the Dec 12 ‘24 high. The 50-day EMA undercuts as support, crossing at 0.6316. A break of the EMA would expose 0.6231, the Feb 10 low. 

• MNI: SPAIN JAN PPI 0.4% M/M, 2.6% Y/Y

Gilt June calls, 93.08/93.09.

• PLEASE not that these could be somewhat distorted with the Roll, but should be close enough, since the spread is just 5 ticks difference between both expiries.