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Sharp Reversal Weighs *RES 4:..........>

SILVER TECHS
SILVER TECHS: Sharp Reversal Weighs
*RES 4: $19.602 - High Sep 5
*RES 3: $19.000 - Psychological round number
*RES 2: $18.860 - High Jan 6 and key resistance
*RES 1: $18.207 - High Jan 9
*PRICE: $17.739 @ 07:00 GMT Jan 14
*SUP 1: $17.685 - Intraday low
*SUP 2: $17.420 - 61.8% retracement of the Dec 9 - Jan 8 rally
*SUP 3: $17.173 - Low Dec 23
*SUP 4: $17.080 - 76.4% retracement of the Dec 9 - Jan 8 rally
Silver experienced a sharp reversal off last Wednesday's $18.860 high and this
continues to weigh on the metal. Furthermore, price action also signals a likely
top in this market for now. Price has today traded below support at $17.729, Dec
26 low. This reinforces current bearish conditions and paves the way for
weakness towards $17.420, 61.8% retracement of the Dec 9 - Jan 8 rally. Initial
resistance is at $18.207 with key resistance defined at $18.860.

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