The morning discussed bearish signs on Stochastic and William %R of the four-hour interval succeeded in taking the metal to the downside. Further declines could be witnessed for the rest of the day as the aforesaid technical indicators still have southern targets to be reached. A break of 18.25 will add more bearish pressure on the metal.
The trading range for today is among the key support at 18.05 and key resistance now at 18.90.
The general trend over the short term basis is to the upsidetargeting 21.50 per ounce as far as areas of 16.20 remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, selling silver around 18.45 targeting 17.80 and stop loss above 18.90 might be appropriate.|