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Likely To Remain Soft *RES 4:..........>

SILVER TECHS
SILVER TECHS: Likely To Remain Soft
*RES 4: $17.761 - Channel top drawn off Sep 24 high
*RES 3: $17.672 - High Nov 7
*RES 2: $17.437 - 50% retracement of Nov 4 - Nov 12 decline
*RES 1: $17.238 - High Nov 22
*PRICE: $16.905 @ 07:07 GMT Nov 25
*SUP 1: $16.745 - Low Nov 18
*SUP 2: $16.649 - Low Nov 12 and bear trigger
*SUP 3: $16.540 - Low Aug 13
*SUP 4: $16.340 - 61.8% retracement of May 28 - Sep 4 rally
Recent gains in Silver have been viewed as a correction and the metal is
starting the week off on a softer note. The outlook is bearish following the
breach on Nov 8 of former key support at $16.898, Oct 1 low. This reinforced
confirmed a resumption of the downtrend that has been in place since prices
peaked on Sep 4. Attention is on a move to $16.540 next with the bear trigger at
$16.649, Nov 12 low. On the upside, resistance is at $17.238, Nov 22 high.

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