Morning Report

Over hourly studies, the metal was able to incline and this upside action wasconfirmed through stability above 31.45. The bullishness could extend during the session today, while silvermay attempt to reach 33.15-65 again. But, stability below 30.65, could negate the upside movement significantly.

The trading range for today is among the key support at 30.30 and key resistance now at 34.40

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

Previous Report

Weekly Report

 
Support31.8531.3031.0530.6530.30
 
Resistance32.9533.1533.6534.4034.65
 
RecommendationBased on the charts and explanations above, we recommend buying silver around 32.05 and take profit in stages at (33.15 and 34.40) and stop loss below 31.05 might be appropriate.