Morning Report

Silver is trading narrowly in areas below 32.95. Stochastic provides positive crossover, but on the other hand RSI is stable below the 50-point level, which in result reflects technical conflict. But in general, consolidation below 32.95 drives us to expect a downside movement, supported by the rising wedge pattern.

The trading range for today is among the key support at 29.55 and key resistance now at 33.75.

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

Support32.1031.6531.2530.9530.50
Resistance32.9533.0533.5033.7534.25
RecommendationBased on the charts and explanations above, our opinion is selling silver below 32.95, and take profit in stages at (31.25 and 29.55) and stop loss with 4-hour closing above 33.75 might be appropriate