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Downtrend Resumption *RES 4: $17.783...>

SILVER TECHS
SILVER TECHS: Downtrend Resumption
*RES 4: $17.783 - Channel top drawn off Sep 24 high
*RES 3: $17.671 - High Nov 7
*RES 2: $17.326 - High Dec 4
*RES 1: $17.028 - High Dec 6
*PRICE: $16.623 @ 07:42 GMT Dec 9
*SUP 1: $16.530 - Intraday low
*SUP 2: $16.340 - 61.8% retracement of May 28 - Sep 4 rally
*SUP 3: $16.027 - Bear channel base drawn off the Sep 24 high
*SUP 4: $15.924 - Low Aug 1
Silver sold off sharply Friday to confirm a resumption of the downtrend that has
been in place since Sep 4. The move lower has defined a key resistance at
$17.326, Dec 4 high where a break is required to alter the picture. Further
weakness is favoured with the next objective at $16.340, the 61.8% retracement
of the rally between May 28 and Sep 4. The bear channel base drawn off the Sep
24 high intersects at $16.027. Initial resistance is at $17.028.

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