Mid-day report

Silver, followed gold as usual, extending the expected CD wave of the short term bearish harmonic pattern, but still trapped below the key point of 16.85. Therefore, we keep our intraday outlook to the downside unless a clear breakout accompanied by a daily closing occurs above 16.85 zones. Note that, momentum indicators are in need for a relief.

The trading range for today is among the key support at 15.80 and key resistance now at 17.85.

The general trend is to the upside as far as 10.95 remains intact with targets at 17.90.






Support16.5516.5016.4216.3316.25
Resistance16.7016.7516.8516.9017.00
RecommendationOur mornig expectation is still valid