Despite the aggressive move that occurred ahead of the market close which we expected in Friday's mid-day report but actually the price is moving slowly now as it's moving above 61.8% which is valued at 12.85 areas and as we notice on the above chart that it was a cluster resistance turned into a cluster support. Hence, we expect an incline to retest the Fibonacci broken level and therefore we will keep our outlook to the upside today as far as 12.50 remains unbroken. Note: Volume is too low.
The trading range for today is among the key support at 12.50 and key resistance now at 14.25.
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 with a four hour close above 13.30 with targets at 13.85 and stop loss with a four hour close below 12.85.|