Mid-day report

Same effects appeared on the bearish formation over the daily basis for silver. Furthermore, the strength of 76.4% Fibonacci for the downsiderally from 19.40 to 8.40 zones is pushing it downwards. Additional negative actions are to be seen during the next session, supported by negative signs appearing on indicators; particulaly ATR which is still indicating decreasing volatility.

The trading range for today is among the key support at 15.75 and key resistance now at 17.90.

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

RecommendationOur mornig expectation is still valid