Morning report

Finally, silver has been able to breach 127% Fibonacci level of our detected XA leg, clearing the path for the second technical target of the harmonic pattern at 18.25-18.50 zones. Corrective actions may occur to relieve the indicators before resuming the upside rally of CD leg. Therefore our intraday overview is bullish as far as 17.28 remains intact.

The trading range for today is among the key support at 16.65 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 17.65 targeting 18.25 and stop loss below 17.15 might be appropriate.