Morning Report

The metal is stable above the top of (C) point of the bullish Bat harmonic structure, which is a positive sign, while Stochastic is positive and trading above the 50-point level. On the other hand, the metal declined from areas around the resistance at 34.65, while RSI is negative. This technical conflict drives us to remain neutral, awaiting more confirmations.

The trading range for today is among the key support at 32.45 and key resistance now at 35.70.

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

Previous Report

Weekly Report

 

Support
33.75
33.40
33.20
33.00
32.80

 

Resistance
34.00
34.25
34.65
35..10
35.70

 

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