Bull Mode Intact

• RES 4: $25.206 - High Jun 8
• RES 3: $24.867 - High Sep 3 and the reversal trigger
• RES 2: $24.411 - High Sep 8
• RES 1: $24.125 - Intraday high
• PRICE: $23.877@ 07:27 BST Oct 20
• SUP 1: $23.015 - Low Oct 18
• SUP 2: $22.213 - Low Oct 6
• SUP 3: $21.423 - Low Sep 29
• SUP 4: $20.871 - 50.0% retracement of the Mar '20 - Feb '21 rally

Silver maintains a short-term bull tone. Last week the metal cleared the 20-day EMA and price has also traded above the 50-day EMA. A continuation would pave the way for a stronger short-term recovery and open $24.411 next, the Sep 8 high. Clearance of this level would suggest potential for stronger gains towards $24.867, Sep 3 high and the bull trigger. Initial firm support to watch is at $23.015, Oct 18 low.