Broader Uptrend Intact

• RES 4: $26.002 - High Apr 19
• RES 3: $25.293 - High Apr 20
• RES 2: $24.729 - 76.4% retracement of the Mar - Sep bear leg
• RES 1: $24.548 - High Jan 3 and the bull trigger
• PRICE: $24.127 @ 08:5 GMT Feb 2
• SUP 1: $23.098 - 50-day EMA
• SUP 2: $22.557 - Low Dec 16 and key short-term support
• SUP 3: $20.872 - Low Nov 28
• SUP 4: $20.585 - Low Nov 21

Silver is firmer but continues to trade inside a range. The trend direction remains up with moving average studies in a bull mode position. Fresh trend highs in December reinforced the positive theme. Furthermore, the move higher has maintained the positive price sequence of higher highs and higher lows. The focus is on $24.729, a Fibonacci retracement. Key short-term support is at $22.557, the Dec 16 low.