Midday Report
The metal is unable to settle above EMA 50, while Stochastic is still negative. Therefore, our weekly expectations remain as they are for the rest of the session today, where the yellow metal is still forming the CD leg of the 0-5 harmonic pattern.
The trading range for this week is among the key support at 1642.00 and key resistance now at 1772.00.
The short-term trend is to the upside with steady weekly closing above 1475.00 targeting 1945.00.
***New York Candlesticks***
| Support | 1703.00 | 1694.00 | 1689.00 | 1675.00 | 1656.00 |
| Resistance | 1706.00 | 1711.00 | 1727.00 | 1735.00 | 1742.00 |
| Recommendation | Our weekly expectations remain valid | ||||
Silver
Midday Report
Silver reversed to the downside after reaching areas around 34.00, while momentum indicators are still negative. Therefore, our morning expectations remain as they are, supported by the harmonic analysis mentioned in our weekly report.
The trading range for this is among the key support at 31.25 and key resistance now at 36.80.
The short-term trend is to the downside with steady weekly closing below 38.00 targeting 20.05.
***New York Candlesticks***
| Support | 33.75 | 33.20 | 33.00 | 32.80 | 32.45 |
| Resistance | 34.00 | 34.40 | 34.65 | 35.05 | 35.75 |
| Recommendation | Our weekly expectations remain valid | ||||
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