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Bearish Pressure Resumes *RES 4:.......>

SILVER TECHS
SILVER TECHS: Bearish Pressure Resumes
*RES 4: $19.000 - Psychological round number
*RES 3: $18.860 - High Jan 6 and key resistance
*RES 2: $18.411 - 61.8% retracement of the Jan 8 - Jan 14 decline
*RES 1: $18.175 - High Jan 17 and key near-term resistance
*PRICE: $17.758 @ 06:30 GMT Jan 22
*SUP 1: $17.635 - Low Jan 21
*SUP 2: $17.420 - 61.8% retracement of the Dec 9 - Jan 8 rally
*SUP 3: $17.173 - Low Dec 23
*SUP 4: $17.080 - 76.4% retracement of the Dec 9 - Jan 8 rally
Silver remains under pressure. Yesterday's price action reinforces a bearish
climate, the metal breached the key $17.685 short-term support, Jan 14 low. What
is now clear is that the Jan 8 sell-off confirmed a reversal and yesterday, that
reversal and now a downtrend has once again resumed. This paves the way for
weakness towards $17.420, the 61.8% retracement of the Nov - Jan rally. Key
short-term resistance has been defined at $18.175, Jan 17 high.

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