SILVER TECHS: Fresh Cycle High

• RES 4: 0.6858 1.000 proj of the Nov 21 - Dec 10 - 18 price swing  
• RES 3: 0.6795 0.764 proj of the Nov 21 - Dec 10 - 18 price swing 
• RES 2: 0.6759 High Oct 11 ‘24
• RES 1: 0.6728 High Dec 29
• PRICE: 0.6708@ 08:14 GMT Dec 30 
• SUP 1: 0.6683/6644 Low Dec 29 / 20-day EMA
• SUP 2: 0.6596 50-day EMA 
• SUP 3: 0.6517 Low Nov 27 
• SUP 4: 0.6466/21 Low Nov 26 / 21 

The trend condition in AUDUSD remains bullish and recent strong gains reinforce current conditions. The pair has cleared a key resistance at 0.6707, the Sep 17 high. The breach confirms a resumption of the medium-term uptrend that started Apr 9. This signal scope for an extension towards 0.6759 next, the Apr 11 2024 high. Initial firm support to watch lies at 0.6644, the 20- day EMA.

• RES 4: 7080.92 0.764 proj Nov 21 - Dec 11 - 18 price swing  
• RES 3: 7021.79 0.618 proj Nov 21 - Dec 11 - 18 price swing
• RES 2: 7014.00 High Oct 30 and the bull trigger
• RES 1: 6994.00 High Dec 26   
• PRICE: 6947.25 @ 07:57 GMT Dec 30
• SUP 1: 6905.84/6855.68 20- and 50-day EMA values
• SUP 2: 6771.50 Low Dec 18 and a key support 
• SUP 3: 6684.50 Low Nov 24  
• SUP 4: 6583.00 Low Nov 21 and a reversal trigger  

The recent pullback in S&P E-Minis has been a correction. A key short-term support has been defined at 6771.50, the Dec 18 low. A break of this level is required to signal scope for a deeper retracement and would highlight a possible short-term reversal. For bulls, sights are on key resistance at 7014.00, the Oct 30 high. Clearance of this hurdle would confirm a resumption of the primary uptrend.

Early London flow of note in the TYH6 112/111 put spread vs. 114 calls, with paper paying -3 for the put spread on 5K.