Stochastic was relieved around our yesterday's suggested areas between 18.35 and 18.45 as seen on the provided four-hour chart, where it met the lower line of the inclining cannel which organizes the movements of the CD leg for the previous discussed AB=CD pattern. Thus; possible positive actions could be seen over intraday basis, supported by the positive crossover appearing on Stochastic
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 ReportSupport18.3518.3018.2518.1518.05Resistance18.5518.6218.7018.7418.80RecommendationBased on the charts and explanations above our opinion is, buying silver around 18.40 targeting 18.85 and stop loss below 18.05 might be appropriate.