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Consolidating at its channel top.......>

SILVER TECHS
SILVER TECHS: Consolidating at its channel top
*RES 4: $17.456 - 2.00 projection of May 28-Jun 21 rally from Jul 5 low
*RES 3: $17.000 - Psychological round number
*RES 2: $16.967 - 1.618 projection of May 28-Jun 21 rally from Jul 5 low
*RES 1: $16.660 - High Jul 25
*PRICE: $16.513 @ 07:04 BST Jul 31
*SUP 1: $16.324 - Low Jul 25
*SUP 2: $16.058 - Low Jul 19
*SUP 3: $15.926 - Low Jul 18
*SUP 4: $15.568 - High Jun 21 and former bull trigger
Silver remains bullish following the recent strong impulsive rally, with metal
holding onto its gains. Note however that Silver is still trading at the top of
a broad bull channel drawn off the Nov 14, 2018 low. The top is at 16.558 today.
A clear break above last weeks high of 16.660 is needed to signal the next leg
higher in the metal that would open $16.967. Initial support lies at 16.324, the
low of Jul 25 and represents an important intraday support ahead of 16.058.

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