After dropping below 31.25 support to activate our morning scenario, the metal inclined again and currently testing the level and the breached ascending support as well. In general, trading remain within the broadening wedge formation and below the aforementioned levels; thus we hold onto our morning expectations for the rest of the day.
The trading range for the day is among the key support at 27.15 and key resistance now at 32.80.
The short-term trend is to the downside targeting 26.65 as far as areas of 48.50 remain intact.
| Support | 30.75 | 30.30 | 29.40 | 28.85 | 28.60 |
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| Resistance | 31.25 | 31.50 | 31.75 | 32.10 | 32.35 |
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| Recommendation | Our morning expectations remain valid. |
Please see the attached chart below.
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