Silver
Morning Report
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Silver is trading within critical level around 32.85, which represents a critical barrier that separates between the bullish harmonic pattern and the bearish technical pattern shown on the chart provided in the weekly report. MACD provided a positive crossover, while the metal is currently above the main descending resistance, which indicates that the upside move might continue today. A downside correction is possible as RSI is almost within overbought area, but in general any trading above 31.75 supports the suggested upside move.
The trading range for today is among the key support at 30.30 and key resistance now at 34.40.
The short-term trend is to the downside with steady weekly closing below 38.00 targeting 20.05.
***New York Candlesticks***
| Support | 32.45 | 32.10 | 31.75 | 31.25 | 31.00 |
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| Resistance | 32.85 | 33.00 | 33.15 | 33.40 | 33.65 |
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| Recommendation | Based on the charts and explanations above, our opinion is buying silver above 32.45, and take profit in stages at 32.85, 33.65 and 34.40 and stop loss with 4-hour closing below 31.25 might be appropriate | ||||
| TIME | |||||
|---|---|---|---|---|---|
| Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
| Prices By NTGOLD | ||
|---|---|---|
| We Sell | We Buy | |
| 37.5g ABC Luong Bar | ||
| 5,333.50 | 4,913.50 | |
| 1oz ABC Bullion Cast Bar | ||
| 4,426.80 | 4,026.80 | |
| 100g ABC Bullion Bar | ||
| 14,205.60 | 12,905.60 | |
| 1kg ABC Bullion Silver | ||
| 1,728.40 | 1,378.40 | |
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