RENEWABLES: UK Morning Wind Forecast

• RES 4: $71.771 - 2.618 proj of the Oct 28 - Nov 13 - 21 price swing
• RES 3: $70.729 - 2.500 proj of the Oct 28 - Nov 13 - 21 price swing 
• RES 2: $70.000 - Psychological round number
• RES 1: $69.993 - Intraday high   
• PRICE: $69.491 @ 08:03 GMT Dec 23
• SUP 1: $64.493 - Low Dec 19  
• SUP 2: $61.137 - 20-day EMA    
• SUP 3: $55.388 - 50-day EMA 
• SUP 4: $53.345 - Low Nov 28 

Trend signals in Silver remain bullish and another fresh cycle high, today, reinforces bullish conditions. This also maintains the current impulsive nature of the rally. Note that moving average studies are in a bull position and this continues to highlight a dominant medium-term uptrend. Sights are on the psychological $70.00 handle, ahead of $70.729, a Fibonacci projection.  Initial firm support is at $60.305, the 20-day EMA.

• MNI: SPAIN Q3 FINAL GDP +0.6% Q/Q (VS +0.7% Q2)
• SPAIN Q3 FINAL GDP +2.8% Y/Y (VS +2.9% Q2)

• RES 4: 1.4051 High Nov 28  
• RES 3: 1.3913 50-day EMA
• RES 2: 1.3854 20-day EMA  
• RES 1: 1.3806 High Dec 19  
• PRICE: 1.3733 @ 07:58GMT Dec 23
• SUP 1: 1.3730 Low Sep 17
• SUP 2: 1.3682 76.4% retracement of the Jun 16 - Nov 6 bull cycle
• SUP 3: 1.3637 Low Jul 25
• SUP 4: 1.3576 Low Jul 23  

A bear theme in USDCAD remains intact, reinforced by the recent move down and note that price is trading closer to its recent lows. The latest pause appears to be a flag - a bearish continuation pattern. Scope is seen for an extension towards 1.3727 next, the Sep 17 low. Initial firm resistance to watch is 1.3854, the 20-day EMA. Short-term gains would be considered corrective and would allow an oversold condition to unwind.