Morning Report

Respecting the harmonic scenario literarily, the metal reached the awaited technical objective of 18.85-click on the previous report link below-. We should put into our consideration that this proposed harmonic sequence might have been completed around 161.8% Fibonacci of BC leg at 18.85 zones. Thus; possible bearishness could be witnessed over intraday basis, supported by negative sign appearing on Stochastic.

The trading range for today is among the key support at 18.05 and key resistance now at 19.25.

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 ReportSupport18.6518.6018.5518.4518.30Resistance18.8518.9519.0019.1019.25RecommendationBased on the charts and explanations above our opinion is, selling silver around 18.75 targeting 18.15 and stop loss above 19.25 might be appropriate.