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Bears Eye The $16.891 Support *RES.....>

SILVER TECHS
SILVER TECHS: Bears Eye The $16.891 Support
*RES 4: $18.338 - High Oct 25 and key resistance
*RES 3: $18.228 - High Nov 4
*RES 2: $18.097 - High Nov 5
*RES 1: $17.675 - High Nov 7
*PRICE: $17.022 @ 07:02 GMT Nov 8
*SUP 1: $16.955 - Low Nov 7
*SUP 2: $16.891 - Low Oct 1 and primary support
*SUP 3: $16.540 - Low Aug 13
*SUP 4: $16.337 - 61.8% retracement of May 28 - Sep 4 rally
Silver sold off sharply yesterday and is trading within striking distance of the
key support at $16.891, Oct 1 low. The outlook remains bearish with prices
having this week cleared the near-term trendline support drawn off the Oct 1
low. A break of $16.891 would confirm a resumption of the downtrend that has
been established since Sep 4 and pave the way for weakness towards $16.540. On
the upside, resistance is at $17.675, yesterday's high.

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