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

SILVER TECHS
SILVER TECHS: $16.480 Support Remains Key
*RES 4: $17.114 - 200-DMA
*RES 3: $16.902 - High June 29 
*RES 2: $16.771 - Hourly resistance Aug 2
*RES 1: $16.600 - Hourly resistance Aug 3
*PRICE: $16.529 @ 0430GMT
*SUP 1: $16.480 - Low July 28
*SUP 2: $16.267 - 21-DMA
*SUP 3: $16.150 - Low July 20
*SUP 4: $15.980 - Low July 17
*COMMENTARY: Topside hesitation around $16.902 combined with correcting O/B
daily studies sees silver looking a little heavy and the $16.480 support
remaining key. Bears continue to look for a close below $16.480 to ease bullish
pressure and shift focus back to $15.980-16.267 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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