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Bears Still In Charge *RES 4:..........>

SILVER TECHS
SILVER TECHS: Bears Still In Charge
*RES 4: $18.803 - High Sep 6
*RES 3: $18.746 - High Sep 24 and key near-term resistance
*RES 2: $18.054 - High Sep 26
*RES 1: $17.400 - Low Sep 13
*PRICE: $17.207 @ 07:16 BST Oct 2
*SUP 1: $16.891 - Low Oct 1
*SUP 2: $16.540 - Low Aug 13
*SUP 3: $16.493 - 1.00 projection of Sep 4 - Sep 13 decline from Sep 24 high
*SUP 4: $16.337 - 61.8% retracement of May 28 - Sep 4 rally
Silver is likely to remain under pressure following the recent sharp sell-off.
Former key support at $17.400, Sep 13 low has been cleared and attention turns
to support at $16.540, Aug 13 low as the next objective. Note, the 50%
retracement of the entire rally between May 28 - Sep 4, at $16.970 has been
achieved. The 61.8% retracement lies at $16.337. Initial resistance is at
$17.400.

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