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SILVER TECHS: Bears Strengthen Their Hold
*RES 4: $19.653 - High Sep 4 and key resistance
*RES 3: $18.803 - High Sep 6
*RES 2: $18.746 - High Sep 24 and key near-term resistance
*RES 1: $18.054 - High Sep 26
*PRICE: $17.413 @ 06:51 BST Sep 30
*SUP 1: $17.297 - Low Sep 27
*SUP 2: $16.970 - 50% retracement of the May 28 - Sep 4 rally
*SUP 3: $16.853 - Low Aug 19
*SUP 4: $16.540 - Low Aug 13
Silver begins the week on a softer note. The metal has breached former key
support at $17.400, Sep 13 low. This follows an important reversal last week
where at the close on Sep 25, a candle pattern known as an evening star reversal
was confirmed. The subsequent bearish follow through cements the current weaker
outlook with the focus on a move towards $16.970 next, 50% retracement of May 28
- Sep 4 rally. Initial resistance is at $18.054, Sep 26 high.