Morning Report

Silver jumped from 17.70 zones to 18.45 zones within one candlestick over four hour interval, reflecting the surprising effect of US data. Actually, this aforesaid move took the metal to the upper line of our caught bearish channel again and we still have a bearish pattern on the daily chart. Despite that, the upcoming move is not clear as the move is paused since this incline occurred and we cut the last four-hour candlestick to show you how the movement reflects the confusion on metals market.Beacuse of the above factors, our outlook will be neutral today.

The trading range for today is among the key support at 17.90 and key resistance now at 18.95.

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.

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RecommendationBased on the charts and explanations above our opinion is, staying aside until a clear sign appears.