Bearish Threat Intact *RES 4:..........>

SILVER TECHS: Bearish Threat Intact

*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: $17.798 @ 06:57 GMT Jan 24

*SUP 1: $17.606 - Low Jan 24

*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 vulnerable. Tuesday's price action reinforced a bearish climate

following the break of the key $17.685 short-term support, Jan 14 low. This

confirmed a resumption of bearish theme that has dominated since the sharp

reversal off the Jan 8 high $18.860. The move lower 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.