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Looking To Retrace Further *RES 4:.....>

SILVER TECHS
SILVER TECHS: Looking To Retrace Further
*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: $17.838 @ 07:19 BST Oct 30
*SUP 1: $17.610 - Low Oct 29
*SUP 2: $17.419 - 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 Friday at $18.338 and the subsequent pullback could see the metal
retrace to a short-term trendline support drawn off Oct 1 low that intersects at
$17.419 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 instead
confirm a resumption of gains.

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