The downward action occurred yesterday was limited exactly at 13.88 (The most critical area turned into cluster support) confirmed our bullish expectation specially after it was followed by a bullish candle stick formation. Therefore, more incline is still in favor because technically it gathered enough momentum which will help it to breach the cluster resistance for intraday basis at 14.40-14.45 areas. Note: Indicators are still neutral but its preparing for technical explosion.
The trading range for today is among the key support at 13.50 and key resistance now at 15.00.
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 14.20 with targets at 14.70 and stop loss with a four hour close below 13.85.|