After testing the 33.50 area yesterday the metal started an upside attempt that reached a high of 34.85, this upside move breached the short term descending resistance shown above, we look for more upside attempts today as well supported by settling above the 33.50 support and the 50 SMA over four-hour basis, targeting mainly the latest high just above 35.50 area along with the 50 day SMA.
The trading range for today is among the key support at 32.20 and key resistance now at 37.00.
The short-term trend is to the downside targeting 26.65 as far as areas of 48.50 remain intact.
*The provided chart based on GMT+2*
|Recommendation||Based on the charts and explanations above, we recommend buying silver around 34.00 targeting 34.70 ,35.50 , stop loss with four-hour closing below 33.45 might be appropriate.|