Morning report

Silver reached all our yesterday’s projected targets by placing a temporary low at 12.57 (our target was at 12.60), reviving our expected bearish overview which was confirmed by a long black candle stick. Now despite the price is battling the pivotal resistance around 12.95 areas but we still see that a new sell off actions are being under preparation for the time being based on the stable negative move below 13.25 (cluster support turned into resistance) while EMA 50 and TEMA 15 are located at 13.21-13.30 areas above the bearish candle stick formation, only a break of 13.40 might be able to change this intraday bearishness.

The trading range for today is among the key support at 12.25 and key resistance now at 13.90.

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