Morning Report

Silver also slipped towards 18.45 zones after facing the critical resistance areas of 18.85. According to our harmonic analysis, we believe that this level should be breached to confirm the upside direction towards 19.45 zones, whereas the CD leg of our captured harmonic formation. Therefore the intraday outlook is neutral as far as it moves below the above mentioned pivotal resistance.

The trading range for today is among the key support at 17.60 and key resistance now at 19.45.

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

Weekly report

RecommendationBased on the charts and explanations above our opinion is, buying silver with a breakout above 18.85 targeting 19.45 and stop loss below 18.35 might be appropriate.