SILVER TECHS: Holding On To Its Latest Gains
Mar-19 08:02
- RES 4: $35.736 - 1.236 proj of the Feb 14 - Apr 12 - May 2 ‘24 swing
- RES 3: $34.903 - High Oct 23 ‘24 and the bull trigger
- RES 2: $34.548 - High Oct 29 ‘24
- RES 1: $34.081 - High Mar 14
- PRICE: $33.862 @ 08:02 GMT Mar 19
- SUP 1: $32.783 - 20-day EMA
- SUP 2: $32.026/30.815 - 50-day EMA / Low Feb 28 and key support
- SUP 3: $29.704 - Low Jan 27
- SUP 4: $28.748 - Low Dec 19 and a bear trigger
Silver is holding on to its latest gains. The recent rally resulted in a clear break of key resistance at $33.397, the Feb 14 high. The breach confirms a resumption of the bull cycle that started Dec 19 and maintains the price sequence of higher highs and higher lows. This signals scope for a climb towards $34.903, the Oct 23 ‘24 high and a medium-term bull trigger. Key trend support has been defined at $30.814, the Feb 28 low.
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