Focus Is On 61.8% Retracement *RES.....>

SILVER TECHS: Focus Is On 61.8% Retracement

*RES 4: $19.000 - Psychological round number

*RES 3: $18.860 - High Jan 6 and key resistance

*RES 2: $18.564 - 76.4% retracement of the Jan 8 - Jan 23 decline

*RES 1: $18.381 - 61.8% retracement of the Jan 8 - Jan 23 decline

*PRICE: $18.036 @ 06:47 GMT Jan 28

*SUP 1: $17.606 - Low Jan 24 and bear trigger

*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 spiked higher yesterday although the metal did find resistance at its

high of $18.367. The focus for now is on $18.381, the 618% retracement of the

Jan 8 - Jan 23 decline. A break would undermine the recent bearish focus and

instead signal scope for an extension higher towards $18.564, the 76.4%

retracement ahead of $18.860, the Jan 8 high. On the downside, key support is

still at $17.606, Jan 23 low.