We mentioned in our previous report that the Deep Crab harmonic pattern is now available, where this pattern remains valid as long as the metal is stable above 29.60. The pattern was not completed or confirmed until now, but silver is moving in line with Fibonacci which suits the rules of the mentioned harmonic pattern. Therefore, we expect the upside move to continue, affected by the formation of the CD leg of the harmonic structure.
The trading range for today is among the key support at 27.10 and key resistance now at 32.75.
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 29.90, and take profit in stages at (30.85 and 32.10) and stop loss with 4-hour closing below 28.85 might be appropriate|