The metal settled above the first target of the bullish Bat harmonic pattern, which drives us to expect that silver could extend the upside move towards the pattern's second target at 30.80, which represents 61.8% Fibonacci correction of the CD leg. Stochastic is still positive, while RSI attempts to breach the 50-point level. Harmonically wise, stability above 38.2% Fibonacci correction at 29.05 supports the possibility of an upside move significantly, while a breach of 27.10 is required to negate the suggested upside move.
The trading range for today is among the key support at 27.10 and key resistance now at 31.00.
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 buying silver above 29.10, and take profit in stages at (30.30 and 30.80) and stop loss with 4-hour closing below 28.10 might be appropriate|