Morning Report

Silver is trying to hit the sensitive resistance levels of 16.65-16.70 zones-previous support turned into resistance. We see how the metal tries to breach the upper line of the descending channel while the indicators couldn't confirm a change in the main direction yet, claiming that the outlook for today is neutral until we define the coming big move.

The trading range for today is among the key support at 15.50 and key resistance now at 17.60.

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

Weekly Report Previous Report

Support16.6016.5316.4516.3516.30
Resistance16.7716.8516.9016.9517.05
RecommendationBased on the charts and explanations above our opinion is to avoid trading awaiting more confirmation signs for the metal's direction, might be appropriate.