Credit: Shutterstock photoMorning Report The sharp incline seen yesterday was not able to support silver to breach the level of 32.95, which represent 32.8% Fibonacci correction as shown above. This fact also was accompanied with the RSI failure to consolidate above the 50-point level. Therefore, we expect the rising wedge pattern is still effective and could force the metal to the downside. Consolidation above 32.95 delays our expectations, while stability above 33.75 should weaken them significantly. The trading range today is among the key support at 30.30 and key resistance now at 34.60. The short-term trend is to the downside targeting 26.65 as far as areas of 48.50 remain intact. **New York Candlesticks** Previous Report Weekly Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
