Morning report

Silver also isinclining steadily above the key resistance level of 17.35, opening the door for the harmonic CD leg completion around 161.8% Fibonacci of XA as a second technical target for the D point. Therefore a bullish movement is highly predicted over the intraday basis unless a breakout accompanied by a daily closing below 76.4% Fibonacci level at 16.83.

The trading range for today is among the key support at 16.40 and key resistance now at 18.50.

The general trend is to the upside as far as 10.95 remains intact with targets at 18.50.

RecommendationBased on the charts and explanations above our opinion is, buying silver from 17.40 targeting 17.90 and stop loss below 17.00 might be appropriate.