Morning report

Moving steadily below the pivotal resistance level of 18.55 shows that, the way is paved for additional bearishness on the intraday basis-obtained from bearish daily harmonic AB=CD-towards the second technical target of this pattern at 17.65, supported by the negative divergence appearing on the daily interval, while AROON indicator confirms thisproposed harmonic scenario.

The trading range for today is among the key support at 17.25 and key resistance now at 19.40.

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

RecommendationBased on the charts and explanations above our opinion is, selling silver from 18.25 targeting 17.65 and stop loss above 18.80 might be appropriate.