Bullish Trend Conditions

• 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 4
• PRICE: $23.923 @ 08:08 GMT Jan 9
• SUP 1: $22.557 - Low Dec 16 and key short-term support
• SUP 2: $22.382 - 50-day EMA
• SUP 3: $20.872 - Low Nov 28
• SUP 4: $20.585 - Low Nov 21

The trend condition in Silver remains bullish despite the recent pullback from trend highs. Moving average studies remain in a bull mode condition and fresh trend highs in December reinforce the uptrend. 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 has been defined at $22.557, the Dec 16 low.