SILVER TECHS: Short-Term Structure Deteriorates

• RES 4: $35.736 - 1.236 proj of Jan 22 - Apr 12 - May 2 price swing        
• RES 3: $35.226 - 50.0% of the Apr 2011 - Mar 2020 bear leg
• RES 2: $33.880 - 1.00 proj of the Jan 22 - Apr 12 - May 2 price swing
• RES 1: $32.518 - High May 20 and bull trigger               
• PRICE: $28.780 @ 08:12 BST Jul 23
• SUP 1: $28.668 - Low Jul 23               
• SUP 2: $27.971 - Low May 13  
• SUP 3: $26.018 - Low May 2 and a key support  
• SUP 4: $24.328 - Low Mar 27

Silver slipped through support early Friday, to tilt the S/T outlook bearish on the move through the 50-day EMA. Key support and the bear trigger lies just below at $28.573, the Jun 26 low. Any recovery and return higher would resume the bull cycle after the recent break of $30.853, the Jun 21 high. A continuation higher would signal scope for a test of the key resistance and bull trigger at $32.518, the May 20 high.