The metal remains heavy having.........>

SILVER TECHS: The metal remains heavy having stalled at yesterday's high of

$18.948.

- The pullback is potentially significant because, it marks the third failed

attempt to clear a resistance defined by the $18.740 level.

- The failed attempts were on Sep 24, Jan 8 and yesterday.

- 3 is an important number in technical analysis and in this instance,

yesterday's 3rd failure to hold onto gains above $18.740 is a warning that

downside pressure may dominate near-term.

- A close above $18.743 is required to strengthen a bullish case.

- Until then, there appears to be a growing risk from a technical perspective

that the metal will weaken towards $18.155 and $18.00 next.