Midday Report

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The upside trading might be a retest to the breached 17.76 and after that the sharp decline was an effect to the facts mentioned in yesterday's report. The negative pressures prevail as trading is below the resistance mentioned above; Stochastic provided a positive reversal while the metal failed in breaching critical areas around 17.43. Therefore, we prefer the neutral stance for now until further confirmations are attained either with daily closing below 17.43 or above 17.73.

The trading range for today is among the key support at 16.85 and the key resistance at 18.32.

The general trend over short term basis is to theupsidetargeting 21.50 as far as areas of 16.20 remain intact.

Previous Report

Weekly ReportSupport17.6017.5817.5417.4917.43Resistance17.7317.7617.8017.9018.00RecommendationBased on the charts and explanations above we remain neutral for now awaiting more confirmations