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Recovery Still Likely A Correction.....>

SILVER TECHS
SILVER TECHS: Recovery Still Likely A Correction
*RES 4: $19.000 - Psychological round number
*RES 3: $18.860 - High Jan 6 and key resistance
*RES 2: $18.411 - 61.8% retracement of the Jan 8 - Jan 14 decline
*RES 1: $18.207 - High Jan 9
*PRICE: $18.135 @ 06:44 GMT Jan 21
*SUP 1: $17.873 - Low Jan 16
*SUP 2: $17.685 - Low Jan 14 and bear trigger
*SUP 3: $17.420 - 61.8% retracement of the Dec 9 - Jan 8 rally
*SUP 4: $17.173 - Low Dec 23
Despite recent gains, Silver for now is still seen likely to remain vulnerable
following the sharp reversal off the Jan 8 high of $18.860. Price also recently
breached support at $17.729, Dec 26 low to reinforce bearish conditions and this
paves the way for a move towards $17.420, 61.8% retracement of the Dec 9 - Jan 8
rally. A break of the latter would expose potential for a deeper decline.
Initial resistance is at $18.207 with key resistance at $18.860.

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