Silver technical levels and trading recommendations for December 03, 2013
December 3, 2013 3:30 pm
Overview
As it was expected last week, more bearish signals would be available after breaking the Support level 19.50 yesterday, then the metal continued its downward move after breaking the Support level, thus providing us with another good opportunity to sell till reaching the Support level 19.00 which is tested now. Currently and as shown the metal has hit the Support level 19.00 and started to take a bullish move. Presently, we suggest waiting for closing above this level to give us a new opportunity for more buy signals with first target few pips below the Resistance level 19.50, then after breaking this Resistance level, the silver would open the way towards the Resistance level 19.75, which means more bullish signals.
Resistance and support levels: R3 (20.00) R2 (19.75) R1 (19.50) S1 (19.00) S2 (18.70)
The material has been provided by InstaForex Company – www.instaforex.com
Overview
As it was expected last week, more bearish signals would be available after breaking the Support level 19.50 yesterday, then the metal continued its downward move after breaking the Support level, thus providing us with another good opportunity to sell till reaching the Support level 19.00 which is tested now. Currently and as shown the metal has hit the Support level 19.00 and started to take a bullish move. Presently, we suggest waiting for closing above this level to give us a new opportunity for more buy signals with first target few pips below the Resistance level 19.50, then after breaking this Resistance level, the silver would open the way towards the Resistance level 19.75, which means more bullish signals.
Resistance and support levels: R3 (20.00) R2 (19.75) R1 (19.50) S1 (19.00) S2 (18.70)
The material has been provided by InstaForex Company – www.instaforex.com
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