Morning report

The daily harmonic studies shows that, silver has been capable of forming a minor bullish channel as seen on the provided chart. This channel controls the upside movements which is targeting the extreme target of CD leg of the suggested [Bat] pattern at 161.8% -valued at 19.10 zones-. Henceforth, the intraday overview is to the upside as far as 18.45 zones remain intact.

The trading range for today is among the key support at 16.75 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.

RecommendationBased on the charts and explanations above our opinion is, buying silver from 18.70 targeting 19.05 and stop loss below 18.40 might be appropriate.