SILVER TECHS: Pullback Appears To Be A Correction
Apr-20 07:09By: Taso Anastasiou
- RES 4: $26.943 - High Mar 8 2022 and a key resistance
- RES 3: $26.771 - High Mar 9 2022
- RES 2: $26.222 - High Apr 18 2022 and a key resistance
- RES 1: $26.088 - High Apr 14
- PRICE: $25.207 @ 08:08 BST Apr 20
- SUP 1: $24.476 - 20-day EMA
- SUP 2: $23.458 - 50-day EMA
- SUP 3: $22.828 - Low Mar 28
- SUP 4: $22.157 - Low Mar 21
Silver remains in an uptrend and the recent pullback is considered corrective. The break - on Apr 4 - of resistance at $24.637, the Feb 2 high, confirmed a resumption of the bull trend that started early September 2022. The focus is on $26.222 next, the Apr 18 2022 high. On the downside, a key support to watch is seen at $24.476, the 20-day EMA. A break of this level would signal scope for a deeper (corrective) pullback.
