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• RES 4: $41.064 - 1.764 proj of the Apr 7 - 25 - May 15 swing
• RES 3: $40.285 - 1.618 proj of the Apr 7 - 25 - May 15 swing
• RES 2: $40.000 - Psychological round number
• RES 1: $39.655 - 1.500 proj of the Apr 7 - 25 - May 15 swing    
• PRICE: $38.448 @ 08:07 BST Aug 27
• SUP 1: $37.334/36.216 - 50-day EMA / Low Jul 31 
• SUP 2: $35.285 - Low Jun 24
• SUP 3: $33.940 - 50.0% retracement of the Apr 7 - Jul 23 bull leg  
• SUP 4: $32.958 - Low Jun 2

Trend signals in Silver are unchanged and remain bullish. Prices have recently recovered off support around the 50-day EMA, now at $37.334. A clear break of the average is needed to strengthen a short-term bearish threat and allow for a deeper retracement. This would open $35.285, the Jun 24 low. For bulls, the latest resumption of gains opens the next objective at $39.655 a Fibonacci projection. 

• RES 4: 1.4111 High Apr 10 
• RES 3: 1.4019 38.2% retracement of the Feb 3 - Jun 16 bear leg
• RES 2: 1.3968 High May 20
• RES 1: 1.3925 High Aug 22
• PRICE: 1.3841 @ 08:03 BST Aug 27
• SUP 1: 1.3807 20-day EMA
• SUP 2: 1.3777/22 50-day EMA / Low Aug 7
• SUP 3: 1.3576 Low Jul 23
• SUP 4: 1.3557/40 Low Jul 3 / Low Jun 16 and the bear trigger 

A bull cycle in USDCAD that started mid-June remains in play. The recent breach of resistance at 1.3879, the Aug 1 high, continues to highlight a bullish phase. Moving average studies have recently crossed and are in a bull-mode position, strengthening the current uptrend. An extension higher would signal scope for 1.4019, a Fibonacci retracement. Support to watch lies at 1.3775, the 50-day EMA. A break of the EMA would signal a reversal.

• Gilt Dec (G Z5) call, 90.42/90.45 range.

These can be a little distorted because of the spread, Yesterday it settled at 4.