Morning report

Silver also has reached the projected technical target of Friday's bearish wave at the pivotal point of 15.90, where it found a solid support that is pushing it to form a bullish harmonic wave of a harmonic structure as seen on our provided four-hour chart, targeting 17.70 zones. Hence our intraday overview will be to the upside on the intraday basis. A break of 16.50 will ease the movements to breach 61.8% followed by 76.4% Fibonacci level.

The trading range for today is among the key support at 15.25 and key resistance now at 17.70.

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 16.15 targeting 16.70 and stop loss below 15.70 might be appropriate.