Mid-day report

As a fellow, silver is declining sharply below 76.4% Fibonacci as seen on the above daily chart. The harmonic structure is in progress while the price is facing the upper line of the RSI-MA channel. Therefore we keep our overview to the downside unless 16.85 areas are broken decisively.

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.