Morning report

Silver is trading above 14.30 (Cluster resistance areas turned into support) where this impulsive move is still supported by the ladder candle stick formation as we explained in the last week's reports and similar to gold we expect that silver is gathering enough momentum to breach the critical resistance around 14.70-14.85 areas. Therefore,, we still expect more incline on the intraday basis as far as 13.90 remains unbroken. Note: TEMA indicator is still moving below the ascending channel giving it the positive support it needs.

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.

Resistance14.40 14.55 14.70 14.90 15.00


According to our analysis, we believe that it is good to buy silver with a four hour close above 14.40 with targets at 14.85 and stop loss with a four hour close below 14.00.