Morning Report

The bearish anticipation that we explained yesterday has been protected via the cluster resistance areas of 16.25, where the second peak of the suggested double top formation was placed. Thus; potential bearish actions could be witnessed over intraday basis, supported by negative sign appearing on Stochastic.

The trading range for today is among the key support at 14.80 and key resistance now at 16.40.

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

Weekly ReportPrevious Report

Support15.7215.6515.6015.5515.35
Resistance15.8515.9015.9516.1016.25
RecommendationBased on the charts and explanations above our opinion is, selling silver from 15.85 targeting 15.35 and stop loss above 16.25 might be appropriate