Silver technical levels and trading recommendations for May 07, 2013
May 7, 2013 1:45 pm
Overview:
Like we expected yesterday, the price’s close below 23.90 will give new opportunities for sell-signals. Currently the metal has already managed to break this level to trade below and open the way towards 23.20 as first target, then the metal must test the Support level 23.00 to get more bearish move till reaching 22.50 as second target. On the other hand, the metal’s rebound from the Support level 23.00 cancels bullish scenario.
Resistance and support levels: R3 (25.50) R2 (25.00) R1 (23.90) S1 (23.00) S2 (22.50) S3 (22.00)
The material has been provided by InstaForex Company – www.instaforex.com
Overview:
Like we expected yesterday, the price’s close below 23.90 will give new opportunities for sell-signals. Currently the metal has already managed to break this level to trade below and open the way towards 23.20 as first target, then the metal must test the Support level 23.00 to get more bearish move till reaching 22.50 as second target. On the other hand, the metal’s rebound from the Support level 23.00 cancels bullish scenario.
Resistance and support levels: R3 (25.50) R2 (25.00) R1 (23.90) S1 (23.00) S2 (22.50) S3 (22.00)
The material has been provided by InstaForex Company – www.instaforex.com
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