Bearish Threat Still Present *RES 4:...>

SILVER TECHS: Bearish Threat Still Present

*RES 4: $18.367 - High Jan 27

*RES 3: $18.219 - High Jan 28

*RES 2: $18.126 - High Feb 3

*RES 1: $17.887 - High Feb 6 and key near-term resistance

*PRICE: $17.770 @ 08:43 GMT Feb 17

*SUP 1: $17.453 - Low Feb 13

*SUP 2: $17.352 - Low Jan 29 and bear trigger

*SUP 3: $17.173 - Low Dec 23

*SUP 4: $17.080 - 76.4% retracement of the Dec 9 - Jan 8 rally

Silver ended the week on a slightly firmer note bouncing off Thursday's $17.453

low. A bearish threat remains intact though following the move lower on Jan 28

and the failure on Jan 27 at $18.381, 61.8% of the Jan 8 - Jan 23 decline. The

reversal led to a breach of key support at $17.606, Jan 23 low confirming a

resumption of the downturn since Jan 8. The bear trigger is $17.352, Jan 29 low.

On the upside, a break of $17.887, Feb 6 high would alter the picture.