Finally, silver has formed a negative divergence, as seen on the four-hour chart above, supporting the short term possibility for constructing a potential reversal zone of the short term bearish harmonic [Bat] pattern. Therefore we keep our intraday outlook to the downside over the intraday basis, supported by the overbought signs appearing on indicators.
The trading range for today is among the key support at 13.85 and key resistance now at 15.70.
The general trend is to the upside as far as 10.95 remains intact with targets at 16.85.
|Recommendation||Based on the charts and explanations above our opinion is, selling silver from 14.96 targeting 14.35 and stop loss above 15.45 might be appropriate.|