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$16.480 Support Key Today *RES 4:......>

SILVER TECHS
SILVER TECHS: $16.480 Support Key Today
*RES 4: $17.091 - 200-DMA
*RES 3: $17.034 - 100-DMA 
*RES 2: $16.968 - Bollinger band top
*RES 1: $16.902 - High June 29
*PRICE: $16.636 @ 0430GMT
*SUP 1: $16.480 - Low July 28
*SUP 2: $16.265 - Low July 25
*SUP 3: $16.223 - 21-DMA
*SUP 4: $16.150 - Low July 20
*COMMENTARY: Topside hesitation around $16.902 combined with correcting O/B
daily studies sees silver looking a little heavy and the $16.480 support key
today. Bears continue to look for a close below $16.480 to ease bullish pressure
and shift focus back to $15.940-16.265 where the 21-DMA is located. The 200-DMA
remains key resistance with bulls needing a close above to reconfirm a bullish
bias and initially target $17.750 June highs.

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