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Bearish Pressure Still Present *RES....>

SILVER TECHS
SILVER TECHS: Bearish Pressure Still Present
*RES 4: $18.860 - High Jan 6 and primary resistance
*RES 3: $18.367 - High Jan 27 and key near-term resistance
*RES 2: $18.219 - High Jan 28
*RES 1: $18.126 - Intraday high
*PRICE: $17.750 @ 07:10 GMT Feb 3
*SUP 1: $17.352 - Low Jan 29 and bear trigger
*SUP 2: $17.080 - 76.4% retracement of the Dec 9 - Jan 8 rally
*SUP 3: $16.887 - Low Dec18
*SUP 4: $16.773 - Low Dec 12
Silver sold off on Jan 28 following a failure at $18.381, 618% of the Jan 8 -
Jan 23 decline. The sharp reversal led to a breach of key support at $17.606,
Jan 23 low to confirm a resumption of the downtrend that started on Jan 8.
Further weakness is still seen likely near-term with scope for a move towards
$17.080, 76.4% of the Dec 9 - Jan 8 rally. A break of $17.352 support would
confirm a bearish outlook. Key resistance is at $18.367, Jan 27 high.

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