In today’s H4 chart, we see that the metal is trading between the Support level of 20.00 and below the Resistance level of 20.50 after its failure to break the Resistance level last Firday. It bounced from it to take a slightly downward move. Currently, it is testing the Support level of 20.00. Presently, we suggest waiting for closing above the Resistance level of 20.50 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 20.90. After breaking this Resistance level, silver would open the way towards the Resistance level of 21.25 that, which means more bullish signals.
Resistance and support levels: R3 (21.25), R2 (20.90), R1 (20.50), S1 (20.00), S2 (19.75).
The material has been provided by InstaForex Company – www.instaforex.com
Overview
In today’s H4 chart, we see that the metal is trading between the Support level of 20.00 and below the Resistance level of 20.50 after its failure to break the Resistance level last Firday. It bounced from it to take a slightly downward move. Currently, it is testing the Support level of 20.00. Presently, we suggest waiting for closing above the Resistance level of 20.50 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 20.90. After breaking this Resistance level, silver would open the way towards the Resistance level of 21.25 that, which means more bullish signals.
Resistance and support levels: R3 (21.25), R2 (20.90), R1 (20.50), S1 (20.00), S2 (19.75).
The material has been provided by InstaForex Company – www.instaforex.com
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