Morning Report

The stability above 13.45 areas changed the intraday overview from downside to upside and as shown on the chart the price is moving above Fibonacci expansions levels trying to hit the upper line of the ascending channel. There are no overbought signals therefore we expect more incline towards 13.90 and a daily close above it will change the medium term outlook to the upside. Today's bullish outlook is supported by Gator oscillator signal.

The trading range for today is among the key support at 12.95 and key resistance now at 14.70.

The general trend is to the upside as far as 11.25 remains intact with targets at 16.50.

Resistance13.74 13.88 13.95 14.15 14.30


According to our analysis, we believe that it is good to sbuy silver with a four hour close above 13.80with targets at 14.05 and stop loss with a four hour close below 13.58.