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Downward Trend Channel Remains.........>

SILVER TECHS
SILVER TECHS: Downward Trend Channel Remains Intact
*RES 4: $15.640 - High Mar 21 
*RES 3: $15.343/212 - High Apr 9 
*RES 2: $15.110 - High Apr 26 
*RES 1: $14.870/938/980 - Down trendline resistance/200-dma/High May 3 
*PRICE: $14.800 @ 05:42 GMT May 15 
*SUP 1: $14.616 - Low May 13 
*SUP 2: $14.555 - Low May 3 
*SUP 3: $14.444 - 76.4% retracement of Nov-Feb rally 
*SUP 4: $14.054 - Low Nov 30 
Silver showed some promise yesterday but failed to take out down trendline
resistance keeping the focus on the downside. Bears look for a break below
Monday's low at $14.616 to bring the May 3 low at $14.555 back into play. Below
here would open the 76.4% retracement at $14.444. Bulls need to recover down
trendline resistance/the 200-dma/and the May 3 high at $14.870/938/980. Above
here would shift the outlook bullish opening the April 26 high at $15.110. 

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