Morning Report

Silver is still fluctuation within a tight range above 31.25 and that keeps the possibility for the metal to settle above 31.80 eying again the resistance for the sideways range at 31.80. The upside move remains possible, yet stability below 31.25 weakens those expectations.

The trading range for today is among the key support at 29.90 and key resistance now at 33.15.

The short-term trend is to the downside targeting 20.05 as far as areas of 38.00 remain intact with weekly closing.

*The chart above is based on NY time*

Previous Report

Weekly Report

Support31.2531.0030.8530.3029.90
Resistance31.8032.0032.6032.8533.00
RecommendationBased on the charts and explanations above our opinion is buying silver around 31.25 and take profit in stages at 31.80, 32.60, and 33.15 and stop loss with four-hour closing below 31.00 might be appropriate