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Bearish conditions in place *RES 4:....>

SILVER TECHS
SILVER TECHS: Bearish conditions in place
*RES 4: $18.803 - High Sep 6
*RES 3: $18.471 - High Sep 12 and key resistance
*RES 2: $18.194 - High Sep 13
*RES 1: $18.006 - High Sep 16
*PRICE: $17.808 @ 07:14 BST Sep 17
*SUP 1: $17.400 - Low Sep 13 and bear trigger
*SUP 2: $16.970 - 50% retracement of the May 28 - Sep 4 rally
*SUP 3: $16.853 - Low Aug 19
*SUP 4: $16.540 - Low Aug 13
Silver traded to a low of $17.400 Friday extending the recent sharp reversal in
prices and more importantly confirmed a break of trendline support drawn off Jul
12 low. Despite the recovery yesterday, bearish conditions are expected to
remain in place and current gains are viewed as a correction. Firm near-term
resistance is at Friday's $18.194 high and $18.471, the high of Sep 12. The
focus is on $17.400, a break would open $16.853 next.

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