Weekly Report

Silver is still trading within the sideway range, while Stochastic is positive and the long candlestick seen with the start of this week suggests more bullish attempts. But, at the same time, trading outside the ascending channel and consolidation below the resistance levels at 34.40 and 34.65 could prevent the expected upside move. Therefore, we remain neutral in our weekly report, awaiting more confirmation.

The trading range for this week is among the key support at 30.30 and key resistance now at 35.70.

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

***New York Candlesticks***

Previous Report

Support33.2033.0032.8032.4531.80
Resistance33.7534.2534.6035.0535.65
RecommendationBased on the charts and explanations above, we remain neutral awaiting more confirmations