• 516 days Will The ECB Continue To Hike Rates?
  • 516 days Forbes: Aramco Remains Largest Company In The Middle East
  • 518 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 918 days Could Crypto Overtake Traditional Investment?
  • 923 days Americans Still Quitting Jobs At Record Pace
  • 925 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 928 days Is The Dollar Too Strong?
  • 928 days Big Tech Disappoints Investors on Earnings Calls
  • 929 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 931 days China Is Quietly Trying To Distance Itself From Russia
  • 931 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 935 days Crypto Investors Won Big In 2021
  • 935 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 936 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 938 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 939 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 942 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 943 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 943 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 945 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Silver: The Declining Channel Has Held Thus Far

Silver has thus far failed to break over the resistance area defined by 20.52 and its declining channel (around 20.55). The technical structure from recent trading days favours further short-term weakness. Hourly supports can be found at 19.94 (15/01/2014 low) and 19.35. Another resistance is given by the 200 day moving average (around 21.43).

In the longer term, the failure to break the key resistance area between 24.87 (26/04/2013 high) and 26.07 (26/09/2011 low) coupled with an underlying bearish trend call for lower prices. The break of the key support at 20.50 favours a move towards the next key support at 18.23 (28/06/2013 low).

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment