The current price behaviors are still supporting the harmonic idea of resuming the CD leg of the harmonic structure of crab pattern, where the CD leg itself might be formed by AB=CD pattern. As far as trading remains above 30.60-30.15, the bullishness will be in favor. Areas of 29.85 protect the bullish scenario.
The trading range for today is among the key support at 29.05 and key resistance now at 32.05.
The general trend over the short term basis is to the upside targeting $ 32.55 per ounce as far as areas of 29.80 remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, buying silver around 30.60 targeting 31.70 and stop loss with a four hour closing below 30.15 might be appropriate.|