Morning report

Silver declined aggressively yesterday and breached the lower line of the ascending channel but still the upward potential didn't change as the Fibonacci expansion level at 13.50 areas is still supporting. Therefore we expect an upward move recovery at least to retest the broken trend line; our overview for intraday basis is based on clear oversold signals on stochastic and WIILIAM %R INDICATORS unless a clear break occurs below 13.25 areas

The trading range for today is among the key support at 13.00 and key resistance now at 14.60.

The general trend is to the upside as far as 12.00 remains intact with targets at 16.50.

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