Morning Report

The inclines occurred yesterday couldn't achieve a daily closing above 37.95 zones and also 38.15 wasn't touched. Thereby, the bearishness is still in favor but we need a breakout below 37.20 to confirm the bearish effect of the harmonic crab pattern.

The trading range for today is among the key support at 35.35 and key resistance now at 38.68.

The general trend over short term basis is to theupside,targeting 39.05 as far as areas of 30.80 remain intact with weekly closing.

Previous Report

Weekly Report

Support37.5037.2037.0537.0036.90
Resistance37.7537.9538.1038.6839.00
RecommendationBased on the charts and explanations above our opinion is, selling silver with a four hour closing below 37.20, gradually targeting 36.43, 36.05 and 35.35; while the stop is a daily closing above 37.95 might be appropriate.