Mid-day report

Silver is facing a very critical resistance area which consists of the potential reversal zone for our previous discussed harmonic pattern around [15.60-15.65] areas in addition to the deep overbought signs appearing on most time frames. Therefore, we see that the areas between 15.65 -127% -and 16.15[161.8% of XA leg] should be watched carefully before defining the next direction.

The trading range for today is among the key support at 14.32 and key resistance now at 16.50.

The general trend is to the upside as far as 10.95 remains intact with targets at 16.85.



Support15.5715.4915.4315.3715.25
Resistance15.7315.8015.8715.9316.10
RecommendationBased on the charts and explanations above our opinion is, waiting for a breakout, accompanied by a daily closing in order to pinpoint the upcoming direction more clearly