Morning Report

The IM structure appeared on silver as we see on the provided chart of the four-hour interval. Therefore, potential offensive bearishness of A-B-C waves could be seen over intraday and short term basis. Indicators support this negative overview.

The trading range for today is among the key support at 16.85 and key resistance now at 17.90.

The general trend over the short term basis is to the downside, targeting $ 13.60 per ounce as far as areas of 19.40 remain intact.

RecommendationBased on the charts and explanations above our opinion is, selling silver from 17.50 targeting 16.85 and stop loss above 17.90 might be appropriate.