Morning Report

Silver failed to settle above the suggested neckline of the bullish technical structure at 33.00 and then reversed to the downside. But still, the metal didn't provide any 4-hour closing below 32.15. As shown above on the chart, we find that our positive factors are still seen, where the metal is stable above the ascending main support as shown above in red, while MACD is still positive; however, the metal must settle above 32.85 and then 33.00 is order to support the positive outlook, until then we remain neutral.

The trading range for today is among the key support at 31.00 and key resistance now at 33.65.

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

***New York Candlesticks***

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Weekly Report

RecommendationBased on the charts and explanations above, we remain neutral awaiting more confirmations