Heading North
Jan-27 02:12By: Taso Anastasiou
Oil Bullets+ 1
- RES 4: $26.778 - High Jul 6
- RES 3: $26.467 - High Jul 14
- RES 2: $26.002 - High Aug 4 and a key resistance
- RES 1: $25.510 - High Aug 5
- PRICE: $25.079 @ 07:21 GMT Nov 15
- SUP 1: $23.878/23.020 - 50-day EMA / Low Nov 3 and a key support
- SUP 2: $22.213 - Low Oct 6
- SUP 3: $21.423 - Low Sep 29 and key support
- SUP 4: $20.871 - 50.0% retracement of the Mar '20 - Feb '21 rally
Silver is holding onto the bulk of its gains from last week. Recent price action had defined key short-term directional triggers at; $23.020, Nov 3 low and $24.828, Oct 22 high. The $24.828 resistance has been cleared and the break confirms a resumption of the current bull cycle. This opens $26.002 next, Aug 4 high. For bears, weakness through $23.020 is required to instead expose $22.213, Oct 6 low.
