Morning Report

Silver was able to reach the awaited targets yesterday and now is stable around 31.00. Stochastic approaches oversold areas, which could trigger heavy fluctuations and positive trading, which could lift the metal to retest areas around 33.00. In general, we remain neutral today, observing the metal's behavior around the critical levels between the support level at 30.35 and the resistance level at 33.00.

The trading range for today is among the key support at 30.30 and key resistance now at 36.20.

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

Previous Report

Weekly Report

 
Support31.2531.0030.3529.9029.35
 
Resistance31.6032.1032.6032.9533.00
 
RecommendationBased on the charts and explanations above, we remain neutral today, due to the high risks associated to our expectations