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Bearish Pennant Formation *RES 4:.....>

SILVER TECHS
SILVER TECHS: Bearish Pennant Formation 
*RES 4: $15.671 - High July 26 
*RES 3: $15.610 - High July 31 
*RES 2: $15.554 - High August 3 
*RES 1: $15.474 - 21-DMA 
*PRICE: $15.375 @ 06.50GMT 
*SUP 1: $15.248 - Low August 3 
*SUP 2: $14.790 - Low April 2016 
*SUP 3: $14.474 - Low February 29 2016 
*SUP 4: $13.648 - Low December 14 2015 
Failure to break above the 21-DMA yesterday has shifted the focus back to the
downside as a bearish pennant formation looks increasingly likely to give way to
the downside. A break below the August 3 lows at $15.248 would confirm this,
shifting the focus to the April 2016 lows. Bulls continue to look for a close
above the 21-DMA, currently at $15.474, to give them the upper hand. 

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