Morning Report

Despite the incline seen, but momentum indicators are still negative and trading within overbought areas and reflected negative divergence. Furthermore, the level of 33.75, which represents the top of (C) point of the harmonic structure, is still intact. Therefore, we cannot confirm the continuity of the upside move. At the same time to confirm the downside movement a breach and consolidation below 33.00 is necessary. Therefore, we remain neutral in our morning report, awaiting the metal's behavior around 33.75.

The trading range for today is among the key support at 31.60 and key resistance now at 35.10.

The short-term trend is to the downside with steady weekly closing below 38.00 targeting 20.05.

**New York Candlesticks**

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above, we remain neutral awaiting more confirmations