EQUITIES: EU Banking sector is at a new 18yrs high
* The European Bank Index (SX7E) is not only the leading sector in Europe, but it is now clearing ...
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IRAN: "*UKMTO GETS REPORT OF INCIDENT 13NM SOUTHEAST OF LIMAH, OMAN" - BBG
"*UKMTO GETS REPORT OF INCIDENT 13NM SOUTHEAST OF LIMAH, OMAN" - BBG
SILVER TECHS: Bearish Trend Sequence
- RES 4: $100.000 - Round number resistance
- RES 3: $89.374 - High May 13
- RES 2: $78.898 - High May 19
- RES 1: $61.800/66.979 20- and 50-day EMA
- PRICE: $58.187 @ 08:28 BST Jul 14
- SUP 1: $55.613 - Low Jun 24 and the bear trigger
- SUP 2: $52.577 - 1.000 proj of the Mar 2 - 23 - May 13 price swing
- SUP 3: $50.000 - Psychological round number
- SUP 4: $48.644 - Low Nov 21 ‘25
The trend set-up in Silver remains bearish. Key support at $61.007, the Mar 23 low and a bear trigger, has been cleared. The break highlights an important bearish development and confirms a resumption of the medium-term downtrend. Sights are on $52.577, a Fibonacci projection. Key short-term resistance is seen at $66.979, the 50-day EMA. Resistance at the 20-day EMA is at $61.800.
USDCAD TECHS: Bull Flag Reinforces The Uptrend
- RES 4: 1.4328 1.764 proj of the Mar 9 - 31 - May 1 price swing
- RES 3: 1.4292 61.8% Retracement Feb’25 - Jan’26 downleg
- RES 2: 1.4264 1.618 proj of the Mar 9 - 31 - May 1 price swing
- RES 1: 1.4248 High Jun 24, 25 and 30 and the bull trigger
- PRICE: 1.4119 @ 08:23 BST Jul 14
- SUP 1: 1.4117 Low Jul 10
- SUP 2: 1.4011 50-day EMA
- SUP 3: 1.3951 Low Jun 15
- SUP 4: 1.3899 Low Jun 10
The USDCAD trend theme is unchanged, it remains bullish. The latest pause appears to be a flag - a bullish continuation signal. Note too that a recent fresh cycle high, reinforced the bull theme and has paved the way for a climb towards 1.4292, 61.8% of the Feb ’25 - Jan ’26 downleg. The trend remains overbought. A pullback would allow this condition to unwind. Key support is 1.4011, the 50-day EMA.
