Morning Report

Silver attempts to breach 61.8% Fibonacci correction at 30.40 as shown above, but the metal was unable to confirm the breach of this level and returned to settle now above this level, providing a candlestick formation that suggests another bullish attempt today. But at the same time, the metal is still below the previously breached support of the sideway range at 31.25 over intraday basis. Therefore, we remain neutral awaiting silver to exit this narrow range.

The trading range for today is among the key support at 28.85 and key resistance now at 32.10.

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

 
Support30.4029.9029.6029.0528.85
 
Resistance30.8531.0031.2531.6031.80
 
RecommendationBased on the charts and explanations above, we remain neutral awaiting more confirmations