SCHATZ TECHS: (H6) Continues To Appreciate
- RES 4: 107.000 Round number resistance
- RES 3: 106.959 76.4% retracement of the Nov 21 - Dec 10 bear leg
- RES 2: 106.945 High Dec 3 and a key resistance
- RES 1: 106.925 High Dec 4
- PRICE: 106.910 @ 06:06 GMT Jan 21
- SUP 1: 106.790 Low Jan 9 / 16 and a key near-term support
- SUP 2: 106.725 Low Jan 5
- SUP 3: 106.690 Low Dec 18 & 22
- SUP 4: 106.630 Low Dec 10 and the bear trigger
A bear theme in Schatz futures remains intact and the bull cycle since Dec 10 still appears corrective. However, an extension higher highlights a stronger short-term upward cycle. This has exposed 106.945 next, a Fibonacci retracement. For bears, a reversal would refocus attention on key support and the bear trigger at 106.630, the Dec 10 low. First key support to watch lies at 106.790, the Jan 9 and 16 low.
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LOOK AHEAD: UK Timeline of Key Events (Times GMT)
| Date | Time | Period | Event |
| 22-Dec | 0700 | Q3 | GDP 2nd Est / Quarterly Current Account Balance |
| 02-Jan | 0930 | Dec | S&P Global Manufacturing PMI (Final) |
| 05-Jan | 0930 | Nov | BOE Lending to Individuals / M4 |
| 06-Jan | 0001 | Dec | BRC Monthly Shop Price Index |
| 06-Jan | 0930 | Dec | S&P Global Services / Composite PMI (f) |
| 07-Jan | 0930 | Dec | S&P Global/CIPS Construction PMI |
| 12-Jan | 0001 | --- | KPMG-REC Report on Jobs |
| 13-Jan | 0001 | Dec | BRC-KPMG Shop Sales Monitor |
| 15-Jan | 0700 | Nov | GDP / Services / Production / Trade / Construction |
| 15-Jan | 0930 | --- | BOE Credit Conditions Survey |
| 20-Jan | 0700 | Nov/Dec | Labour Market Report |
| 21-Jan | 0001 | Dec | Brightmine pay deals for whole economy |
| 21-Jan | 0700 | Dec | Consumer Inflation Report / Producer Prices |
| 22-Jan | 0700 | Dec | Public Sector Finances |
| 23-Jan | 0001 | Jan | Gfk Monthly Consumer Confidence |
| 23-Jan | 0700 | Dec | Retail Sales |
| 23-Jan | 0930 | Jan | S&P Global Manuf / Serv / Comp PMI (p) |
| 27-Jan | 0001 | Jan | BRC Monthly Shop Price Index |
LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)
| Date | Time | Country | Event |
| 22-Dec | 0900 | IT | PPI |
| 23-Dec | 0700 | DE | Import/Export Prices |
| 23-Dec | 0800 | ES | GDP (f) / PPI |
| 30-Dec | 0800 | ES | HICP (p) |
| 02-Jan | 0815 | ES | S&P Global Manufacturing PMI (f) |
| 02-Jan | 0845 | IT | S&P Global Manufacturing PMI (f) |
| 02-Jan | 0850 | FR | S&P Global Manufacturing PMI (f) |
| 02-Jan | 0855 | DE | S&P Global Manufacturing PMI (f) |
| 02-Jan | 0900 | EU | S&P Global Manufacturing PMI (f) / M3 |
| 06-Jan | 0745 | FR | HICP (p) |
| 06-Jan | 0815 | ES | S&P Global Services / Composite PMI (f) |
| 06-Jan | 0845 | IT | S&P Global Services / Composite PMI (f) |
| 06-Jan | 0850 | FR | S&P Global Services / Composite PMI (f) |
| 06-Jan | 0855 | DE | S&P Global Services / Composite PMI (f) |
| 06-Jan | 0900 | DE | Regional CPIs |
| 06-Jan | 0900 | EU | S&P Global Services / Composite PMI (f) |
| 06-Jan | 1300 | DE | Germany CPI (p) |
SILVER TECHS: Northbound
- RES 4: $71.771 - 2.618 proj of the Oct 28 - Nov 13 - 21 price swing
- RES 3: $70.729 - 2.500 proj of the Oct 28 - Nov 13 - 21 price swing
- RES 2: $70.000 - Psychological round number
- RES 1: $69.687 - 2.382 proj of the Oct 28 - Nov 13 - 21 price swing
- PRICE: $69.008 @ 06:11 GMT Dec 22
- SUP 1: $64.493 - Low Dec 19
- SUP 2: $60.305 - 20-day EMA
- SUP 3: $54.931 - 50-day EMA
- SUP 4: $51.309 - Low Nov 26
Trend signals in Silver remain bullish and another fresh cycle high, today, reinforces bullish conditions. This also maintains the current impulsive nature of the rally. Note that moving average studies are in a bull position and this continues to highlight a dominant medium-term uptrend. Sights are on $69.687 next, a Fibonacci projection, ahead of the psychological $70.00 handle. Initial firm support is at $60.305, the 20-day EMA.
