Morning Report

Silver has reached the first detected objective at 18.15 zones. Now, we believe that it's gathering the momentum it needs to reach the second projected targetfor the four-hour bearish harmonic AB=CD pattern at 17.75-17.70 zone. The RSI 14 and AROON indicators still support our potential bearish overview over intraday basis. Areas around 18.95-19.05 should hold to keep this anticipation valid.

The trading range for today is among the key support at 16.35 and key resistance now at 19.40.

The general trend is to the upside as far as 12.45 remains intact with targets at 19.40 followed by 20.15.

Support18.5018.4018.3518.2518.15
Resistance18.5718.6618.7018.8518.95
RecommendationBased on the charts and explanations above our opinion is, selling silver from 18.55 targeting 17.80 and stop loss above 19.05 might be appropriate