Daily analysis of Silver for April 30, 2014
April 30, 2014 8:45 amVideo
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Overview
In today’s H4 chart, the metal is still trading between the support level of 19.20 and below the resistance level of 19.50. After its failure to break the resistance level yesterday and the bounce from it, it took a slight downward move. Currently, it is retesting the support level of 19.20 again. Presently, we suggest waiting for closing above the resistance level of 19.50 in case of bouncing from the support level to give us a new opportunity for more buy signals with the first target few pips below the resistance level of 19.75, then after breaking this resistance level, silver would open the way towards the resistance level of 20.20, which means more bullish signals.
Resistance and support levels: R3 (20.20), R2 (19.75), R1 (19.50), S1 (19.20), S2 (18.90), S3(18.50).
The material has been provided by InstaForex Company – www.instaforex.com
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