Midday Report

Looking closer at the hourly bearish harmonic [Bat] formation that was discussed in our morning report, but this time over 4hbasis, we will find a clear shooting star candlestick has been formed and it's still pressuring the metal negatively. Hence, we keep our overview to the downside for the rest of the day, supported by the negative crossover onStochastic.

The trading range for today is among the key support at 16.65 and key resistance now at 18.60.

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

RecommendationOur mornig expectations remain valid