Silver technical levels and trading recommendations for December 16, 2013
December 16, 2013 4:15 pm
Overview
According to expections expressed last week, the price’s close below the Resistance level 19.75 would give new opportunities for sell signals. Currently the metal has already managed to close below the Resistance level to trade below and open the way towards 19.20 as the first target, then the metal must test the Support level 19.00 to get more bearish move till reaching 18.75 as the second target. On the other hand, the metal’s rebound from the Support level 19.20 cancels bearish scenario.
Resistance and support levels: R3(20.20), R2 (20.00), R1 (19.75), S1 (19.20), S2 (19.00), S3 (18.75).
The material has been provided by InstaForex Company – www.instaforex.com
Overview
According to expections expressed last week, the price’s close below the Resistance level 19.75 would give new opportunities for sell signals. Currently the metal has already managed to close below the Resistance level to trade below and open the way towards 19.20 as the first target, then the metal must test the Support level 19.00 to get more bearish move till reaching 18.75 as the second target. On the other hand, the metal’s rebound from the Support level 19.20 cancels bearish scenario.
Resistance and support levels: R3(20.20), R2 (20.00), R1 (19.75), S1 (19.20), S2 (19.00), S3 (18.75).
The material has been provided by InstaForex Company – www.instaforex.com
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