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Bears Need Close Below Jan 4 High......>

SILVER TECHS
SILVER TECHS: Bears Need Close Below Jan 4 High
*RES 4: $18.218 - High Sep 8 2017
*RES 3: $17.704 - High Jan 25, 2018
*RES 2: $17.320 - High Jun 14
*RES 1: $16.106 - High Jan 30, down trendline resistance from 2016 high
*PRICE: $15.918 @ 07:23 GMT Feb 5
*SUP 1: $15.654 - 21-dma
*SUP 2: $15.187/184 -50-dma/Low Jan 22
*SUP 3: $15.001 - High Aug 28
*SUP 4: $14.494 - Low Dec 14
The longer term downtrend remains in place below the Jan 30 highs. Bears now
look for a close back below the Jan 4 high at $15.875 to extend the move and
bring the 50-dma Jan 22 low at $15.187/184 into view. Bulls continue to target
$16.106 which marks the Jan 30 high as well as downtrend resistance from the
2016 high. A close above here would be highly bullish, improving the bigger
picture trend and opening the June 14 high at $17.320.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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