Nothing changed since our mid-day report; silver is still trading in a sideways move but the expected bearish scenario is still in favor depending on the overbought signals appearing on the stochastic and Gator alligator. Hence, we expect more decline towards our previous mentioned targets especially if 12.19 areas that were broken since it represents a cluster support as shown on the chart.
The trading range for today is among key support at 11.66 and key resistance now at 13.06.
The general trend is to the downside as far as 14.70 remains intact with targets at 9.85 and 8.50
|Sell silver with a four hour close below 12.19 with targets at 11.90 and stop loss with a four close above 12.37|