Morning report

Silver found the support exactly around 12.50 areas (The critical area which we explained before) and now by forming 5 waves sequence for the decline started at 14.60, similar to gold; we expect that silver will move up again based on the obvious bullish sign appearing on WILLIAM %R as shown on the above 4h chart and this expected bullish scenario for today will not be changed unless a clear break and a clear close occurs below 12.25 zones.

The trading range for today is among the key support at 12.00 and key resistance now at 13.88.

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

Resistance12.85 13.12 13.25 13.35 13.55


According to our analysis, we believe that it is good to buy silver with a four hour close above 12.85 with targets at 13.40 and stop loss with a four hour close below 12.45.