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Silver prices contract to $30.74

According to the Technical Analyst Team at ICN.com, “The white metal continued to move lower following the breakout of the symmetrical triangle pattern as expected. Subsequently, silver prices again retested the major support level at 30.75, where it rebounded slightly short after. A break below 30.75 level in particular could be significant, as this may dramatically extend the bearish direction. Therefore, we will wait for a clear break below the aforementioned level to suggest further bearishness.”
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United Kingdom PPI Core Output (MoM) n.s.a increases 0.2% in Jan and (YoY) grows 1.4%

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