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Downside Focus Intact *RES 4:..........>

SILVER TECHS
SILVER TECHS: Downside Focus Intact
*RES 4: $19.000 - Psychological round number
*RES 3: $18.860 - High Jan 6 and key resistance
*RES 2: $18.411 - 61.8% retracement of the Jan 8 - Jan 14 decline
*RES 1: $18.207 - High Jan 9
*PRICE: $17.896 @ 07:16 GMT Jan 16
*SUP 1: $17.685 - Low Jan 14
*SUP 2: $17.420 - 61.8% retracement of the Dec 9 - Jan 8 rally
*SUP 3: $17.173 - Low Dec 23
*SUP 4: $17.080 - 76.4% retracement of the Dec 9 - Jan 8 rally
Silver remains vulnerable following the sharp reversal off the Jan 8 high of
$18.860. Price has also recently breached support at $17.729, Dec 26 low to
reinforce current bearish conditions and this paves the way for a move towards
$17.420, 61.8% retracement of the Dec 9 - Jan 8 rally. A break of the latter
would expose potential for a deeper decline. Initial resistance is at $18.207
with key resistance defined at $18.860.

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