61.8% retracement is pivotal *RES 4:...>

SILVER TECHS: 61.8% retracement is pivotal

*RES 4: $19.121 - 76.4% retracement of Sep 4 - Sep 13 decline

*RES 3: $18.803 - High Sep 6

*RES 2: $18.792 - 61.8% retracement of Sep 4 - Sep 13 decline

*RES 1: $18.746 - Intraday high

*PRICE: $18.498 @ 07:18 BST Sep 24

*SUP 1: $17.940 - Low Sep 23

*SUP 2: $17.520 - Low Sep 18

*SUP 3: $17.400 - Low Sep 13 and bear trigger

*SUP 4: $16.970 - 50% retracement of the May 28 - Sep 4 rally

Silver started the week on a firm note. From a trend perspective, current gains

are viewed as a correction with bearish conditions in place. Resistance at

$18.471, Sep 12 high was breached yesterday though. Attention turns to the

pivotal 61.8% retracement of Sep 4 - Sep 13 decline at $18.792. A break would

suggest the recovery is not a correction and signal potential for a cimb towards

the key $19.653 resistance, Sep 4 high. Support is at yesterday's $17.940 low.