Morning Report

Silver is fluctuating heavily since two days as shown on the chart, while this fluctuation didn't specify any exact trend. RSI 14is trading below 50.00 points within sideway range, and Stochastic is inclining but still weak though. The metal is stable between SMA 20 and 50 most of the time. Therefore, we will stay neutral, awaiting more confirmations regarding the next major trend.

The trading range for today is among the key support at 35.30 and key resistance now at 40.40

The short-term trend is to the downside targeting 26.65 as far as areas of 48.50 remain intact with weekly closing.

Previous Report

Weekly Report

 
Support38.5038.2537.9537.3036.75
 
Resistance39.2039.7540.1040.4040.90
 
RecommendationBased on the charts and explanations above, we recommend observing silver for more confirmations regarding the short-term move.