The negative effect of the rising wedge pattern is still valid, while silver is gradually moving towards 30.30, which represents a critical support level and an intraday and short-term barrier. Today, we expect the downside movement to continue, where any trading below 32.95 supports our expectations to prevail, while Stability below 31.60 supports the downside movement significantly.
The trading range for today is among the key support at 29.55 and key resistance now at 33.50.
The short-term trend is to the downside targeting 26.65 as far as areas of 48.50 remain intact.
**New York Candlesticks**
|Recommendation||Based on the charts and explanations above, our opinion is selling silver below 31.60, and take profit in stages at (30.30 and 29.55) and stop loss with 4-hour closing above 32.10 might be appropriate.|