STIR: SFRZ5/Z6 Flattener Flow

• RES 4: $34.903 - High Oct 23 and the bull trigger  
• RES 3: $33.125 - High Nov 1 
• RES 2: $32.338 - High Dec 12 and a key resistance  
• RES 1: $30.676 - 50-day EMA                             
• PRICE: $28.945 @ 07:58 GMT Dec 31  
• SUP 1: $28.748 - Low Dec 19        
• SUP 2: $28.446 - 76.4% retracement of the Aug 8 - Oct 23 bull cycle 
• SUP 3: $27.686 - Low Sep 6 
• SUP 4: $26.451 - Low Aug 8  

A bear cycle in Silver that started Oct 23 remains in play. The metal has recently breached support at $29.642, the Nov 28 low. The break lower opens $28.446, a Fibonacci retracement. Note that moving average studies are in a bear-mode position highlighting a dominant downtrend. Key resistance has been defined at $32.338, the Dec 12 high. A break of this level would signal a reversal.

• RES 4: 1.4667 2.0% 10-dma envelope
• RES 3: 1.4539 3.382 proj of the Oct 17 - Nov 1 - 6 price swing
• RES 2: 1.4508 3.236 proj of the Oct 17 - Nov 1 - 6 price swing
• RES 1: 1.4467 High Dec 19 
• PRICE: 1.4367 @ 07:52 GMT Dec 31
• SUP 1: 1.4336 Low Dec 20  
• SUP 2: 1.4277/4103 20- and 50-day EMA values 
• SUP 3: 1.4011 Low Dec 5 
• SUP 4: 1.3928 Low Nov 25 and a key support 

USDCAD bulls remain in the driver’s seat and the pair is holding on to the bulk of its recent gains. The latest pause appears to be a flag formation - a bullish continuation signal. Note too that moving average studies are in a bull-mode position, highlighting a dominant uptrend. Sights are on 1.4508 next, a Fibonacci projection level. Initial firm support to watch lies at 1.42779, the 20-day EMA. A pullback would be considered corrective. 

Gilt Opening call, 92.25.

• Also regarding the timing for the SETT price window, this should happen at 12:13-12:15 (GMT) for Futures and Options.