Silver technical levels and trading recommendations for December 09, 2013
December 9, 2013 4:30 pm
Overview
Today’s H4 chart shows that the metal is trading between the Support level of 19.50 and below the Resistance level of 19.75 after its failure to break the Resistance level yesterday and bounced from it to take a slightly downward move and currently is re-testing the Support level of 19.50. Presently, we suggest waiting for closing above the Resistance level of 19.75 in case of bouncing from the Support level of 19.50 to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 20.00, then after breaking this Resistance level silver would open the way towards the Resistance level of 20.00, which means more bullish signals.
Resistance and support levels: R3 (20.20), R2 (20.00), R1 (19.75), S1 (19.50), S2 (19.00).
The material has been provided by InstaForex Company – www.instaforex.com
Overview
Today’s H4 chart shows that the metal is trading between the Support level of 19.50 and below the Resistance level of 19.75 after its failure to break the Resistance level yesterday and bounced from it to take a slightly downward move and currently is re-testing the Support level of 19.50. Presently, we suggest waiting for closing above the Resistance level of 19.75 in case of bouncing from the Support level of 19.50 to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 20.00, then after breaking this Resistance level silver would open the way towards the Resistance level of 20.00, which means more bullish signals.
Resistance and support levels: R3 (20.20), R2 (20.00), R1 (19.75), S1 (19.50), S2 (19.00).
The material has been provided by InstaForex Company – www.instaforex.com
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