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Bearish Reversal *RES 3: $15.550/640...>

SILVER TECHS
SILVER TECHS: Bearish Reversal
*RES 3: $15.550/640 - 50-dma/High Mar 21
*RES 2: $15.335 - High Mar 28
*RES 1: $15.200 - 100-DMA
*PRICE: $15.000 @ 06:38 GMT Mar 29
*SUP 1: $14.977 - Low Mar 28
*SUP 2: $14.969 - Low Mar 8
*SUP 3: $14.915 - High Nov 2
*SUP 4: $14.783 - 61.8% retracement $13.897-16.216
Sharp falls in the metals complex yesterday breached the $15.000 level for the
first time since early March. Silver touched pullback lows of $14.977, before
meeting support from the Mar 8 low. Recovery efforts held shallow through Asia
with bears targeting a downside break of the Nov 2 high at $14.915, ahead of the
61.8% retracement level at $14.783. Bulls need to recover the 100-dma at $15.200
to stabilise the outlook and bring the Mar 28 high back into view. Above here
opens the 50-dma & Mar 21 high at $15.550/640.

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