Morning report

Silver is moving above 14.40 slowly establishing a new technical base as we explained before in order to continue the up trending move by gathering enough momentum to breach the critical resistance around 14.70-14.85 areas. Therefore we still expect more incline today as far as 13.90 remains unbroken where our bullish overview is based on: 1- Laddering bullish formation. 2- SMA50& TEMA 20 are supporting the lower line of the ascending channel.

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.

Resistance14.55 14.70 14.90 15.00 15.25


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.