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Silver (CME) (MAY4) intraday: look for a drop towards 25.36 before a bounce

2024-03-21
689

25.36 is our pivot point.

Our preference: look for a drop towards 25.36 before a bounce.

Alternative scenario: the downside breakout of 25.36 would call for 25.20 and 25.03.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Silver (CME) (MAY4) is above its 20 and 50 period moving average (respectively at 25.70 and 25.33).

Supports and resistances:

26.52 **

26.36 *

26.09 **

25.98

25.87 last

25.52

25.36 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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