Morning report

Silver also has respected our yesterday’s bearish expectation and succeeded to reach all it’s extreme projected targets of the downside move and it now started to show a clear upside momentum around 61.8% Fibonacci expansion at 12.85; hence we expect more upside move today particularly if the price closed a four hour close above 12.90 and if that occurred we expect a violent upside action on the intraday basis as far as 12.50 remains unbroken.

The trading range for today is among the key support at 12.50 and key resistance now at 13.90.

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

Resistance13.05 13.12 13.25 13.40 13.55


According to our analysis, we believe that it is good to buy silver with a four hour close above 12.95 with targets at 13.50 and stop loss with a four hour close below 12.50.