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Bears Need Close Below Channel Base....>

SILVER TECHS
SILVER TECHS: Bears Need Close Below Channel Base
*RES 4: $18.262 - Bollinger band top 
*RES 3: $18.212 - High Sept 8 
*RES 2: $18.066 - Hourly resistance Sept 8 
*RES 1: $17.989 - High Sept 12
*PRICE: $17.867 @ 0430GMT
*SUP 1: $17.698 - Low Sept 11
*SUP 2: $17.662 - High Aug 29 now support
*SUP 3: $17.660 - Daily Bull channel base
*SUP 4: $17.440 - Hourly resistance Aug 31 now support
*COMMENTARY: Daily studies correcting from O/B remains a concern for bulls and
combined with Friday's sell-off and Monday's gapping move lower increase the
risk of a correction. Bears still need a close below the channel base to confirm
an easing of bullish pressure and shift immediate focus to $17.085-453 where 21
& 200-DMAs are situated. Bulls now look for a close above $17.989 to return
focus to retests of $18.212.

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