UPDATE

TECHNICALS FOR OCTOBER 7

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

SUPPORTS : S1 18870, S2 18720

RESISTANCES : 19330, 19560

WAIT FOR CONFIRMATION.

Silver futures for December delivery fell 4 cents, or 0.4%, to

$US11.285 an ounce. The metal, which has wider industrial

applications than gold, tumbled 16% last week on speculation

a global recession will reduce demand for raw materials.

Silver initially found solid support in Asia.It gained $ 0.65 to

trade at $ 11.40 before it stabilised in europe.

Renewed buying support in New York saw the metal

shoot to $ 11.70 ,just to subside again when gold

lost steam .

Primary support is at $ 11 and Secondary support

is at $ 10.88 to $ 10.70.

Primary Resistence is at $ 11.65 and Secondary at $ 12.