Morning report

Silver is definitely supported via previous mentioned Fibonacci expansion level as shown on the above chart and as we expected yesterday the price moved downside aiming to gather the proper momentum to complete the upside action again in particular after it succeeded to close 2 4h candles above 13.50. Therefore additional upward action is now highly anticipated towards testing 13.90 critical areas followed by 14.30 and we notice that the camarilla studies on shorter time frames as shown on the left side of the image support our bullish overview today as far as 13.00 remains unbroken.

The trading range for today is among the key support at 12.95 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.












Support13.5513.4513.3513.2513.00
Resistance13.74 13.88 13.95 14.15 14.25

Recommendation

According to our analysis, we believe that it is good buy silver at 13.65 with targets at 14.25 and stop loss at 13.25.