Bull Cycle Still In Play
Aug-10 07:09By: Taso Anastasiou
Oil Bullets+ 1
- RES 4: $21.540 - High Jun 27
- RES 3: $21.000 - Round number resistance
- RES 2: $21.540 - High Jun 27
- RES 1: $20.742 - High Aug 8
- PRICE: $20.424 @ 08:08 BST Aug 10
- SUP 1: $19.551/062 - Low Aug 5 / Low Jul 28
- SUP 2: $18.146/18.000 - Low Jul 14 / Round number support
- SUP 3: $17.312 - 3.00 proj of the Mar 8 - 29 - Apr 18 price swing
- SUP 4: $16.955 - Low Jun 15 2020
Silver started the week on a firmer note and traded higher Monday. The rally resulted in a break of resistance at $20.508, the Aug 2 high. This confirms a resumption of the bull leg that started Jul 14 and the metal has established a bullish price sequence of higher highs and higher lows on the daily chart. The focus is on $21.540, Jun 27 high. On the downside, initial key support has been defined at $19.551, the Aug 5 low.
