Silver technical levels and trading recommendations for December 17, 2013
December 17, 2013 4:15 pm
Overview
From the today’s H4 chart, the metal is trading between the Support level 19.75 and below the Resistance level 20.00 after its failure to break the Resistance level 20.20 yesterday and bounced from it to take a slightly downward move and currently is re-testing the Resistance level 20.00. Presently, we suggest waiting for closing above the Resistance level in case of bouncing from the Support level 19.75 to give us a new opportunity for more buy signals with the first target few pips below the Resistance level 20.20, then after breaking this Resistance level silver would open the way towards the Resistance level 20.50, which means more bullish signals.
Resistance and support levels: R3 (20.50) R2 (20.20) R1 (20.00) S1 (19.75) S2 (19.20) S3(19.00)
The material has been provided by InstaForex Company – www.instaforex.com
Overview
From the today’s H4 chart, the metal is trading between the Support level 19.75 and below the Resistance level 20.00 after its failure to break the Resistance level 20.20 yesterday and bounced from it to take a slightly downward move and currently is re-testing the Resistance level 20.00. Presently, we suggest waiting for closing above the Resistance level in case of bouncing from the Support level 19.75 to give us a new opportunity for more buy signals with the first target few pips below the Resistance level 20.20, then after breaking this Resistance level silver would open the way towards the Resistance level 20.50, which means more bullish signals.
Resistance and support levels: R3 (20.50) R2 (20.20) R1 (20.00) S1 (19.75) S2 (19.20) S3(19.00)
The material has been provided by InstaForex Company – www.instaforex.com
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