Silver technical levels and trading recommendations for December 05, 2013
December 5, 2013 4:30 pm
Overview
As it was expected yesterday, the metal will reverse its bearish move to start its uptrend and open the way towards 19.75 in case of closing 4H above the Resistance of 19.50. Today and as shown from the today’s H4 chart, the metal already took a bullish move after it has managed to break the Resistance level of 19.50 yesterday and closed above it. But it bounced immediately again from the Resistance level of 19.75 and is currently trading between the Support level of 19.00 and below the Resistance level of 19.50. So waiting is prefered now till closing above the Resistance level in case the metal tests it again to open the way towards 19.75 as the first target.
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 yesterday, the metal will reverse its bearish move to start its uptrend and open the way towards 19.75 in case of closing 4H above the Resistance of 19.50. Today and as shown from the today’s H4 chart, the metal already took a bullish move after it has managed to break the Resistance level of 19.50 yesterday and closed above it. But it bounced immediately again from the Resistance level of 19.75 and is currently trading between the Support level of 19.00 and below the Resistance level of 19.50. So waiting is prefered now till closing above the Resistance level in case the metal tests it again to open the way towards 19.75 as the first target.
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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