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Downside Focus *RES 4: $19.602 -.......>

SILVER TECHS
SILVER TECHS: Downside Focus
*RES 4: $19.602 - High Sep 5
*RES 3: $19.000 - Psychological round number
*RES 2: $18.860 - High Jan 6 and key resistance
*RES 1: $18.207 - High Jan 9
*PRICE: $17.843 @ 06:33 GMT Jan 15
*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 experienced a sharp reversal off last Wednesday's $18.860 high and this
continues to weigh on the metal. The outlook remains bearish with price trading
lower again yesterday and breaching support at $17.729, Dec 26 low. This
reinforces current bearish conditions and paves the way for a move towards
$17.420, 61.8% retracement of the Dec 9 - Jan 8 rally. Initial resistance is at
$18.207 with key resistance defined at $18.860.

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