Silver is moving according to our last expectation in yesterday's mid-day report as shown on the above chart where its building a strong technical base from where it will move upside. Therefore, we expect more incline towards 13.90 whereas a daily close above it will change the medium term outlook to the upside and this intraday bullish scenario will not change unless a clear break with stability occurs below 12.96 areas.
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 12.00 remains intact with targets at 16.50.
|According to our analysis, we believe that it is good to buy silver with a four hour close above 13.70 with targets at 14.05 and stop loss with a four hour close below 13.40.|