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SILVER TECHS: Focus Is On Trendline Support
*RES 4: $19.001 - 76.4% retracement of Sep 4 - Oct 1 decline
*RES 3: $18.746 - High Sep 24 and key resistance
*RES 2: $18.598 - 61.8% retracement of Sep 4 - Oct 1 decline
*RES 1: $18.338 - High Oct 25
*PRICE: $17.941 @ 07:20 BST Oct 31
*SUP 1: $17.592 - Low Oct 30
*SUP 2: $17.444 - Trendline support drawn off Oct 1 low
*SUP 3: $17.168 - Low Oct 16
*SUP 4: $16.891 - Low Oct 1 and primary support
Silver stalled at the high of $18.338 on Oct 25 leaving the metal exposed to a
potential pullback near-term towards trendline support drawn off Oct 1 low that
intersects at $17.444 today. A break of this support is required to signal scope
for a deeper pullback and perhaps even a resumption of bearish behaviour. This
would open $17.168, Oct 16 low. Clearance of resistance at $18.338 is needed to
confirm a resumption of gains.