SILVER TECHS: Impulsive Reversal Wave

• RES 4: $36.560 - 1.236 proj of the Dec 19 - Feb 14 - 28 price swing
• RES 3: $35.463 - 1.000 proj of the Dec 19 - Feb 14 - 28 price swing
• RES 2: $34.903 - High Oct 23 ‘24 and the bull trigger 
• RES 1: $33.453/34.590 - 20-day EMA / High Mar 28 a                                    
• PRICE: $31.775 @ 14:31 BST Apr 3    
• SUP 1: $31.470 - Low Mar 4             
• SUP 2: $30.815 - Low Feb 28 and key support 
• SUP 3: $30.127 - 76.4% of the Dec 19 ‘24 - Mar 28 bull leg  
• SUP 4: $29.509 - Low Jan 13  

Silver has confirmed a clear reversal of its recent uptrend. Today’s impulsive sell-off has seen the metal trade through support at $32.665, the Mar 21 low. Furthermore, price is through both the 20- and 50-day EMAs. This signals scope for a continuation down with sights on the next key support at $30.815, the Feb 28 low. Initial resistance is at $33.453, the 20-day EMA. Key resistance has been defined at $34.590, the Mar 28 high.