The expected upward move according to our previous reports has been limited at 13.50 areas (support turned into a cluster resistance) and as shown on the above chart that the price is moving below SMA 55 which is valued at 13.25 for time being. Hence we expect more downside move today as far as 13.70 remains unbroken based also on the bearish signals appearing on WILLIAM % R and GATOR indicators. 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 sell silver with a four hour close below 13.25 with targets at 12.85 and stop loss with a four hour close above 13.55.|