Morning report

Carried above SMA 20, silver is forming consecutive bullish candlesticks structure, supporting our previous explained harmonic scenario of the CD leg which is targeting the areas of 18.50-18.60 as a first target for this bullishness. So that we still keep our intraday overview to the upside as far as the areas of 17.28 remains unbroken. Stochastic positive overlapping confirms the scenario as shown on the provided four-hour chart.

The trading range for today is among the key support at 17.00 and key resistance now at 18.90.

The general trend is to the upside as far as 12.45 remains intact with targets at 19.40.

RecommendationBased on the charts and explanations above our opinion is, buying silver from 17.85 targeting 18.45 and stop loss below 17.40 might be appropriate