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SILVER TECHS
SILVER TECHS: Bearish Focus
*RES 4: $17.801 - Channel top drawn off Sep 24 high
*RES 3: $17.623 - 61.8% retracement of Nov 4 - Nov 12 decline
*RES 2: $17.437 - 50.0% retracement of Nov 4 - Nov 12 decline
*RES 1: $17.326 - High Dec 4
*PRICE: $16.892 @ 07:17 GMT Dec 6
*SUP 1: $16.745 - Low Nov 18
*SUP 2: $16.649 - Low Nov 12 and bear trigger
*SUP 3: $16.540 - Low Aug 13
*SUP 4: $16.340 - 61.8% retracement of May 28 - Sep 4 rally
Silver attempted a push higher Wednesday but failed to hold the high and
reversed lower. This highlights a possible short-term top at $17.326. While this
level holds, the near-term focus is on the potential for weakness and for a move
towards the key bear trigger at $16.649, Nov 12 low. A break would open $16.540
and $16.340. On the upside, a move above Wednesday's high is required to instead
suggest scope for a short-term bounce.

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