Overview

According to our yesterday's expectations, the price's close below the support level of 17.00 would give new opportunities for sell signals. Currently, the metal has already managed to close below the support level to trade below and open the way towards 16.50 as the first target. Then, the metal must test the support level of 16.30, firstly, to get more bearish move untill reaching 16.00 as the second target. On the other hand, the metal's rebound from the support level of 16.30 cancels bearish scenario.

Resistance and support levels: R3 (17.00), R2 (16.75), R1 (16.50), S1 (16.30), S2 (16.00), S3(15.70).