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Downtrend Extends *RES 4: $15.110 -....>

SILVER TECHS
SILVER TECHS: Downtrend Extends
*RES 4: $15.110 - High Apr 26 
*RES 3: $14.917 - 200-dma 
*RES 2: $14.860 - High May 14 
*RES 1: $14.647/650 - 21-dma/down trendline resistance from Feb 20 high 
*PRICE: $14.362 @ 02:26 GMT May 29 
*SUP 1: $14.294 - Low May 28 
*SUP 2: $14.220 - Channel bottom 
*SUP 3: $14.054 - Low Nov 30 
*SUP 4: $13.897 - Low Nov 14 
Silver extended its downtrend yesterday as its underperformance versus gold
reached new extremes. Yesterday's low at $14.294 is now the initial downside
target ahead of channel support which sits at $14.220. Below here would extend
the selloff towards the Nov 30 low at $14.054. Bulls continue to target the
21-dma/down trendline resistance at $14.647/650. A break above here is needed to
shift the outlook bullish.

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