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• RES 4: $35.736 - 1.236 proj of the Feb 14 - Apr 12 - May 2 ‘24 swing 
• RES 3: $34.903 - High Oct 23 ‘24 and the bull trigger
• RES 2: $34.548 - High Oct 29 ‘24  
• RES 1: $34.233 - High Mar 18                                  
• PRICE: $33.126@ 08:03 GMT Mar 24   
• SUP 1: $32.665 - Low Mar 21           
• SUP 2: $32.189/30.815 - 50-day EMA / Low Feb 28 and key support
• SUP 3: $29.704 - Low Jan 27 
• SUP 4: $28.748 - Low Dec 19 and a bear trigger 

Silver has pulled back from its recent highs. Short-term weakness is considered corrective and a bull cycle remains in play. The metal has recently breached a key resistance at $33.397, the Feb 14 high, confirming a resumption of the bull cycle that started Dec 19. This signals scope for a climb towards $34.903, the Oct 23 ‘24 high and a medium-term bull trigger. Key trend support has been defined at $30.814, the Feb 28 low.

• RES 4: 1.4793 High Feb 3 and key resistance
• RES 3: 1.4700 Round number resistance 
• RES 2: 1.4641 76.4% retracement of the Feb 3 - 14 bear leg 
• RES 1: 1.4452/4543 High Mar 13 / 4 and a bull trigger  
• PRICE: 1.4332 @ 07:59 GMT Mar 24
• SUP 1: 1.4242 Low Mar 6 and a key near-term support   
• SUP 2: 1.4151/4107 Low Feb 14 / 50.0% of Sep 25 - Feb 3 bull run
• SUP 3: 1.4011 Low Dec 5 ‘24
• SUP 4: 1.3944 61.8% retracement of the Sep 25 ‘24 - Feb 3 bull cycle

USDCAD is unchanged and is trading closer to its recent lows. The bull cycle that started Feb 14 is intact and MA studies remain in a bull-mode position, highlighting a dominant uptrend. A near-term key support to watch lies at 1.4242, the Mar 6 low. Clearance of this level would undermine the bull theme and instead highlight potential for a test of 1.4151, the Feb 14 low and a bear trigger. The bull trigger is 1.4543, the Mar 4 high.

Large Bund block trade, suggest seller:

• RXM5 ~9.1k at 128.12.