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Bullish Theme Intact *RES 4: $18.743...>

SILVER TECHS
SILVER TECHS: Bullish Theme Intact
*RES 4: $18.743 - High Sep 24
*RES 3: $18.458 - 61.8% retracement of Sep 4 - Dec 9 decline
*RES 2: $18.334 - High Oct 25 and key resistance
*RES 1: $18.148 - Intraday high
*PRICE: $18.093 @ 06:56 GMT Dec 31
*SUP 1: $17.729 - Low Dec 26
*SUP 2: $17.499 - Former channel top drawn off the Sep 24 high
*SUP 3: $17.173 - Low Dec 23
*SUP 4: $16.887 - Low Dec 18
Silver is bullish. The metal last week extended the current rally that started
off the Dec 9 low and more importantly cleared channel resistance drawn off the
Sep 24 low. The clear break of the channel top represents an important technical
breach and signals scope for a stronger reversal. With $18.000 also cleared,
attention turns to $18.334, Oct 25 high. Initial support is seen at $17.729, Dec
26 low.

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