Mid-day report

The metal declined sharply during the previous session, activating the bearish harmonic pattern from 161.8% Fibonacci level of XA leg for the harmonic bearish pattern combined by the full correction level of Fibonacci. Therefore, we keep our outlook to the downside for the rest of the day, supported by the negative signs appearing on the indicators.

The trading range for today is among the key support at 14.75 and key resistance now at 16.85.

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

RecommendationOur mornig expectation is still valid