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SILVER TECHS: Looking For Gains
*RES 4: $16.157 - 61.8% retracement of the Feb 24 - Mar 18 decline
*RES 3: $15.988 - High Apr 10 and bull trigger
*RES 2: $15.599 - High Apr 16
*RES 1: $15.444 - High Apr 23
*PRICE: $15.351 @ 06:54 BST Apr 30
*SUP 1: $14.911 - Low Apr 28
*SUP 2: $14.547 - Low Apr 21 and key S/T support
*SUP 3: $14.245 - Low Apr 6
*SUP 4: $13.815 - 50.0% retracement of the rally between Mar 18 - Apr 10
Silver is slightly firmer although essentially still consolidating. Last week,
the metal bounced off $14.547, Apr 21 low. The recovery is an early indication
that the recent corrective pullback between Apr 10 - 21 may be over. While this
support holds, the focus is on the potential for a climb towards key resistance
at $15.988, Apr 10 high. A breach would confirm a resumption of the uptrend in
place since Mar 18. Sub $14.547 levels would instead be bearish.