Five cents separated between the price of the metal and the awaited technical target of yesterday's reports-check the previous report-. Silver is still controlled ideally inside the bearish channel and consequently, we believe that the bearish effect of the allover bearish harmonic three drives pattern of the daily basis is still in progress. Stochastic supports the potential bearishness over intraday basis.
The trading range for today is among the key support at 17.80 and key resistance now at 19.00.
The general trend over the short term basis is to the upside, targeting $ 21.50 per ounce as far as areas of 16.20 remain intact.
Weekly Report Previous ReportSupport18.3018.2518.1518.0518.00Resistance18.4518.5518.6318.7418.80RecommendationBased on the charts and explanations above our opinion is, selling silver from 18.45 targeting 17.85 and stop loss above 18.95 might be appropriate.