Morning Report

The downside movement is still valid, while Stochastic attempts to provide a negative crossover again, which suggests that the downside movement could extend further. The relative strength index is stable below the 50-level, which supports the rising wedge pattern to remain effective.

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**

Previous Report

Weekly Report

 
Support31.2530.9530.5030.3030.00
 
Resistance31.6032.1032.6032.9533.05
 
RecommendationBased 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