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SILVER TECHS: Lacks Direction
*RES 4: $19.653 - High Sep 4 and bull trigger
*RES 3: $18.746 - High Sep 24 and key resistance
*RES 2: $18.272 - 50% retracement of Sep 4 - Oct 1 decline
*RES 1: $17.958 - High Oct 9
*PRICE: $17.573 @ 06:52 BST Oct 24
*SUP 1: $17.291 - Former channel resistance drawn off Sep 5 high
*SUP 2: $17.168 - Low Oct 16
*SUP 3: $16.891 - Low Oct 1 and bear trigger
*SUP 4: $16.540 - Low Aug 13
Silver continues to trade above the channel resistance drawn off the Sep 5 high
however, this has still not resulted in any upside follow through. To confirm a
convincing bullish break, clearance of resistance at $17.956, Oct 9 high is
required. This would cement a bullish outlook and target $18.746, Sep 24 high. A
failure to remain above the channel top followed by a move below $17.168, Oct 16
low, would instead be bearish and open $16.891, the bear trigger.