Bullish Price Sequence Extends

• RES 4: $25.293 - High Apr 20
• RES 3: $24.729 - 76.4% retracement of the Mar - Sep bear leg
• RES 2: $24.000 - Round number resistance
• RES 1: $23.683 - High Dec 12 and the bull trigger
• PRICE: $23.425 @ 08:09 GMT Dec 12
• SUP 1: $22.025 - Low Dec 6 and a key short-term support
• SUP 2: $21.007/20.585 - 50-day EMA / Low Nov 21 and key support
• SUP 3: $19.416 - Low Nov 4
• SUP 4: $18.835 - Low Nov 3

The trend outlook in Silver remains bullish and the metal traded higher last week. The print on Friday above $23.517, Dec 5 high, highlights a continuation of the bull cycle and maintains the bullish price sequence of higher highs and higher lows. This paves the way for a move towards the $24.00 handle. On the downside, key short-term support has been defined at $22.025, the Dec 6 low.