Morning Report

Silver is still achieving the previous discussed bearish harmonic scenario under the negative pressure of the pivotal resistance areas of 18.25-18.35.The candlesticks formation suggest that, the intraday basis could be negative while RSI 14 is still trending downwards, supporting our overview.

The trading range for today is among the key support at 17.65 and key resistance now at 18.90.

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.

Weekly Report Previous ReportSupport18.0518.0017.9017.8017.72Resistance18.2518.3518.4018.4618.55RecommendationBased on the charts and explanations above our opinion is, selling silver from 18.25 targeting 17.70 and stop loss above 18.65 might be appropriate.