Morning Report

Today, we will explain the reason behind depending on 161.8% Fibonacci of the XA leg of the Deep Crab harmonic pattern, where despite the fact that our technical analysis confirmed that 200% Fibonacci has been reached in several cases, we will depend on 161.8% Fibonacci level due to the bearish Bat harmonic pattern which resides the Deep Crab harmonic pattern in the AB, BC and CD legs, where the Bat patternmaw started at the X1 point, while the Crab pattern started at the X2 point. The conclusion; we expect a downside movement as long as the metal is stable below 32.75, especially when RSI is still excessively overbought. Our expectations depend on 4-hour closing below 33.40.

The trading range for today is among the key support at 30.30 and key resistance now at 34.60.

The short-term trend is to the downside with steady weekly closing below 38.00 targeting 20.05.

**New York Candlesticks**

Previous Report

Weekly Report

Support32.1031.6031.3031.0030.85
Resistance32.7532.9533.0533.4033.75
RecommendationBased on the charts and explanations above, our opinion is selling silver around 32.40, and take profit in stages at (31.30 and 30.30) and stop loss with 4-hour closing above 33.40 might be appropriate