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Off Recent Lows *RES 4: $18.860 -......>

SILVER TECHS
SILVER TECHS: Off Recent Lows
*RES 4: $18.860 - High Jan 6 and primary resistance
*RES 3: $18.367 - High Jan 27 and key near-term resistance
*RES 2: $18.219 - High Jan 28
*RES 1: $18.045 - 61.8% retracement of the Jan 27 - Jan 29 decline
*PRICE: $17.841 @ 06:53 GMT Jan 31
*SUP 1: $17.352 - Low Jan 29 and bear trigger
*SUP 2: $17.080 - 76.4% retracement of the Dec 9 - Jan 8 rally
*SUP 3: $16.887 - Low Dec18
*SUP 4: $16.773 - Low Dec 12
Was firmer yesterday. Sharp losses dominated Tuesday's price action in Silver
following a failure at $18.381, the 618% retracement of the Jan 8 - Jan 23
decline. The sharp reversal led to a breach of key support at $17.606, Jan 23
low to confirm a resumption of the downtrend that started on Jan 8. Further
weakness is seen likely near-term with scope for a move towards $17.080, 76.4%
of the Dec 9 - Jan 8 rally. Key resistance is at $18.367, Jan 27 high.

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