According to what we explained before that 12.45 areas protect silver from resuming any downward moves confirmed by the double bottom appearing on the 4 h chart and now letâ€™s study shorter time frames such as the hourly chart we will notice a harmonic bullish pattern is under construction with a (PRZ) potential reversal areas around 12.50 supporting our bullishness on the intraday basis as far as 12.25 remains unbroken. Carefully note that (William % R) also supports this outlook.
The trading range for today is among the key support at 12.25 and key resistance now at 13.45.
The general trend is to the upside as far as 12.00 remains intact with targets at 16.50.
|According to our analysis, we believe that it is good to buy silver at 12.65 with targets at 13.15 and stop loss at 12.25.|