Morning repor

The same thing can be said for silver as it was supported very strongly around 13.06 areas exactly as we expected in our last report with the market close and the retrace occurred from this zone is still in favor depending on the hourly harmonic bullish pattern appearing clearly on the chart which has been bottomed by a strong bullish candle stick pattern. Therefore we expect more upside actions today for retesting 13.50 areas first followed by the critical areas around 13.90 areas while indicators support this overview on the 4h chart. Nothing will damage this outlook except 12.95 was broken obviously.

The trading range for today is among the key support at 12.85 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.












Support13.2513.1213.0613.0012.85
Resistance13.35 13.45 13.55 13.66 13.80

Recommendation

According to our analysis, we believe that it is good buy silver at 13.30 with targets at 13.85 and stop loss at 12.85.