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SPOT SILVER: Bearish engulfing *RES....>

SILVER TECHS
MNI (London)
SILVER TECHS: SPOT SILVER: Bearish engulfing
*RES 4: $20.064 - High week ending Sep 23, 2016
*RES 3: $20.000 - Psychological round number
*RES 2: $19.743 - High week Sep 30, 2016
*RES 1: $19.653 - Intraday high
*PRICE: $19.476 @ 07:32 BST Sep 6
*SUP 1: $18.338 - Low Sep 3
*SUP 2: $18.052 - Low Aug 29
*SUP 3: $17.635 - Low Aug 27
*SUP 4: $17.529 - Trendline support drawn off the Jul 12 low
Silver has finally found resistance following a strong impulsive rally. The
sharp turn lower yesterday confirmed at the days close, a bearish engulfing
candle. With momentum studies looking to unwind their overbought condition, the
candle pattern is viewed as a reliable signal of a sudden short-term change in
sentiment. As long as resistance at $19.653 remains intact, a corrective
pullback is now seen likely towards trendline support at $17.529. 

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