Morning Report

The level of 30.80 represents a critical barrier, and we recommend reviewing our weekly report for more details regarding this level. As shown above, we find the possible Deep Crab harmonic pattern is still valid, but this structure depends on breaching the level of 30.80-85 and consolidation above it. We expect the metal to provide more bullish attempts today, but consolidation above intraday basis above 29.60 and consolidation above 29.05 in general are necessary for our positive outlook. Stochastic settled in areas around the 50-point level and attempts to provide a positive crossover, which supports our expectations.

The trading range for today is among the key support at 29.05 and key resistance now at 32.75.

The short-term trend is to the downside with steady weekly closing below 48.50 targeting 26.65.

**New York Candlesticks**

Previous Report

Weekly Report

Support30.5030.3029.9029.6029.50
Resistance30.8531.0031.3031.6032.10
RecommendationBased on the charts and explanations above, our opinion is buying silver around 30.55, and take profit in stages at (31.30 and 32.75) and stop loss with 4-hour closing below 29.60 might be appropriate