There are two new technical factors to be added to the negative pressure of the bearish harmonic AB=CD pattern.
1- A bearish candlestick structure.
2-A negative crossover on Stochastic.
These factors can assist the metal to breach the lower line of the inclining channel, opening the door for resuming the suggested negative scenario over intraday basis, targeting 18.40, followed by 18.15 zones.
The trading range for today is among the key support at 18.15 and key resistance now at 19.45.
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 ReportSupport18.6518.6018.5518.4018.25Resistance18.8518.9019.0019.1019.25RecommendationBased on the charts and explanations above our opinion is, selling silver around 18.85 targeting 18.20 and stop loss above 19.40 might be appropriate.