TECHNOLOGY: LSEG Q125 Results

• 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: $34.590 - High Mar 28                                   
• PRICE: $34.033 @ 08:15 BST Apr 1    
• SUP 1: $33.378 - 20-day EMA            
• SUP 2: $32.665 - Low Mar 21 
• SUP 3: $32.545/31.814 - 50-day EMA / Low Mar 11 
• SUP 4: $30.815 - Low Feb 28 and key support

Trend conditions in Silver are unchanged, they remain bullish and last week’s gains reinforce this condition. The rally resulted in a breach of $34.233, the Mar 18 high and a bull trigger. This confirms a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. Sights are on $34.903, the Oct 23 ‘24 high and a medium-term bull trigger. Initial firm support to watch is $33.378, the 20-day EMA.

• MNI: SPAIN MAR MANUFACTURING PMI 49.5 (FCST: 49.7); FEB 49.7

There are no other surprises in the consultation. There is potentially some support for a new medium green gilt in FQ1 - but that is still not our base case.