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**
|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|