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Consolidates *RES 4: $18.860 - High....>

SILVER TECHS
SILVER TECHS: Consolidates
*RES 4: $18.860 - High Jan 6 and primary resistance
*RES 3: $18.367 - High Jan 27 and key near-term resistance
*RES 2: $18.219 - High Jan 28
*RES 1: $18.126 - High Feb 3
*PRICE: $17.716 @ 06:53 GMT Feb 6
*SUP 1: $17.489 - Low Feb 5
*SUP 2: $17.352 - Low Jan 29 and bear trigger
*SUP 3: $17.080 - 76.4% retracement of the Dec 9 - Jan 8 rally
*SUP 4: $16.887 - Low Dec18
Silver is consolidating for now. The metal sold off on Jan 28 following a
failure at $18.381, 618% of the Jan 8 - Jan 23 decline. The sharp reversal led
to a breach of key support at $17.606, Jan 23 low confirming a resumption of the
downtrend that started on Jan 8. Further weakness is seen likely with scope for
$17.080, 76.4% of the Dec 9 - Jan 8 rally. A break of $17.352 would confirm a
bearish outlook. Key resistance is at $18.367, Jan 27 high.

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