Morning report

Silver also reached its projected target of Friday’s analysis- our target was at 12.40- but an upward recovery is obviously under preparation as it forms a potential reversal zone above pivotal support areas around 12.35 offering a harmonic bullish pattern where just a white candle is needed to confirm this probability while indicators support our anticipated bullishness for today on the intraday basis particularly stochastic and William % R as far as 12.00 (initial support) remains unbroken.

The trading range for today is among the key support at 12.00 and key resistance now at 13.25.

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












Support12.3912.2512.1612.0511.97
Resistance12.55 12.64 12.73 12.85 13.00

Recommendation

According to our analysis, we believe that it is good to buy silver at 12.45 with targets at 13.00 and stop loss at 12.05.