Midday Report
In line with our morning scenario, Stochastic of the four-hour time scale succeeded in drawing a positive crossover that pushed it towards the entry point around 1720.00 zones. But, the negativity continued on the daily chart -secondary image- and it may assist the metal to breach through the pivotal support around 1703.00. Any more upside rallies should be well capped below 1765.00 areas to protect the bearish probability.
The trading range for today is among the key support at 1650.00 and key resistance now at 1765.00.
The general trend over the short term basis is to the upside targeting 1945.00 per ounce as far as areas of 1475.00 remain intact with weekly closing.
| Support | 1707.00 | 1707.00 | 1703.00 | 1695.00 | 1687.00 |
| Resistance | 1728.00 | 1735.00 | 1745.00 | 1753.00 | 1765.00 |
| Recommendation | Our morning expectations remain valid. | ||||
Silver
Midday Report
Silver is trading narrowly, but most of movements are below the resistance level at 32.10 and also below the critical resistance level at 32.95 and the exponential moving average 50. Therefore, our morning expectations remain as they are especially when Stochastic is still significantly negative.
The trading range for today is among the key support at 29.55 and key resistance now at 33.75.
The short-term trend is to the downside targeting 26.65 as far as areas of 48.50 remain intact.
**New York Candlesticks**
| Support | 31.60 | 31.25 | 30.95 | 30.50 | 30.30 |
| Resistance | 32.10 | 32.95 | 33.05 | 33.50 | 33.75 |
| Recommendation | Our morning expectations remain valid | ||||
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