Morning Report

The metal failed to breach the resistance levels at 32.85 and 33.15, while today Stochastic is negative, which could trigger a new attempt to enter a downside movement, where this suggested movement today requires consolidation below 33.65, while below 33.15 is much better.

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.

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RecommendationBased on the charts and explanations above, we recommend selling silver around 32.85 and take profit in stages at (30.85 and 29.05) and stop loss with daily closing above 33.70 might be appropriate.