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Outlook Still Bearish *RES 4:..........>

SILVER TECHS
SILVER TECHS: Outlook Still Bearish
*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: $18.126 - High Feb 3
*PRICE: $17.691 @ 07:01 GMT Feb 14
*SUP 1: $17.453 - Low Feb 13
*SUP 2: $17.352 - Low Jan 29 and bear trigger
*SUP 3: $17.080 - 76.4% retracement of the Dec 9 - Jan 8 rally
*SUP 4: $16.887 - Low Dec18
Silver is consolidating. The outlook remains bearish following the move lower on
Jan 28 and the failure on Jan 27 at $18.381, 61.8% of the Jan 8 - Jan 23
decline. The reversal led to a breach of key support at $17.606, Jan 23 low
confirming a resumption of the downtrend that started on Jan 8. Further weakness
is likely with scope for $17.080, 76.4% of the Dec 9 - Jan 8 rally. A break of
$17.352 would confirm this potential. Key resistance is $18.367.

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