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Bearish Focus *RES 4: $17.730 -........>

SILVER TECHS
SILVER TECHS: Bearish Focus
*RES 4: $17.730 - Channel top drawn off Sep 24 high
*RES 3: $17.671 - High Nov 7
*RES 2: $17.326 - High Dec 4 and key resistance
*RES 1: $17.028 - High Dec 6
*PRICE: $16.858 @ 07:22 GMT Dec 12
*SUP 1: $16.530 - Low Dec 9
*SUP 2: $16.340 - 61.8% retracement of May 28 - Sep 4 rally
*SUP 3: $15.974 - Bear channel base drawn off the Sep 24 high
*SUP 4: $15.924 - Low Aug 1
Silver traded higher yesterday however, the outlook remains bearish following
the Dec 6 sell-off that confirmed a resumption of the downtrend. The move lower
has defined a key resistance at $17.326, Dec 4 high where a break is required to
alter the picture. Further weakness is favoured with the next objective at
$16.340, 61.8% of the rally between May 28 and Sep 4. The bear channel base
drawn off the Sep 24 high intersects at $15.974. Resistance is at $17.028.

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