Silver is moving within the same trading range, where we believe that it is retesting the previous broken support levels of 17.60. Thus; our outlook is neutral for today until we see if the weekly closing will be above or below theses areas as a closing below17.60 will signal that the bearishness of the bearish harmonic AB=CD pattern will continue towards 16.90 zones. Indicators are presently neutral and couldn't give a clear bullish or bearish signal.
The trading range for today is among the key support at 16.90 and key resistance now at 18.15.
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 ReportSupport17.4517.3517.2517.1817.07Resistance17.6017.7017.7717.8517.90Recommendation Based on the charts and explanations above our opinion is, watching out the price behavior and the closing around 17.60 in order to pinpoint the coming move.
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