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Still Looking For A Break Lower *RES...>

SILVER TECHS
SILVER TECHS: Still Looking For A Break Lower
*RES 4: $17.672 - High Nov 7
*RES 3: $17.872 - Channel top drawn off Sep 24 high
*RES 2: $17.437 - 50% retracement of Nov 4 - Nov 12 decline
*RES 1: $17.238 - High Nov 22
*PRICE: $16.901 @ 07:20 GMT Dec 2
*SUP 1: $16.817 - Low Nov 26
*SUP 2: $16.649 - Low Nov 12 and bear trigger
*SUP 3: $16.540 - Low Aug 13
*SUP 4: $16.340 - 61.8% retracement of May 28 - Sep 4 rally
Gains in Silver, between Nov 12 and Nov 22 continue to be viewed as a correction
with a bearish bias still intact. A bearish theme follows the breach on Nov 8 of
former key support at $16.898, Oct 1 low that confirmed a resumption of the
downtrend that has been in place since prices peaked on Sep 4. Attention is on a
move to $16.540 next with the bear trigger at $16.649, Nov 12 low. On the
upside, resistance has been defined at $17.238, Nov 22 high.

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