Sideways trading is still settled above 161.8% correction for the BC leg; and mostly we also witness stability above 61.8% correction shown above. Accordingly, we withhold our previous expectations for a possibleintraday upside move today. Stochastic provided a negative crossover which might increase the volatility and trigger downside corrections, yet at the same time trading above 18.15 -50 MA- will keep the upside wave valid.
The trading range for today is among the key support at 17.85 and key resistance now at 18.90.
The general trend over short term basis is to the downside, targeting 13.60 per ounce as far as areas of 19.40 remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, buying silver from 18.35 targeting 18.90 and stop loss below 17.90 might be appropriate|