Morning Report

Silver also declined aggressively, affected by the bearish harmonic formation and the reversal classical pattern, which we explained in our yesterday's midday report; breaching the harmonic uptrend line has opened the for additional downside movements over intraday basis, supported by the negative candlestick formation of yesterday-secondary image-.

The trading range for today is among the key support at 17.60 and key resistance now at 19.10.

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

Weekly report Previous day Report

Support18.1818.0518.0017.9517.85
Resistance18.3518.4018.5218.5718.66
RecommendationBased on the charts and explanations above our opinion is, selling silver from 18.40 targeting 17.85 and stop loss above 18.85 might be appropriate