Silver technical levels and trading recommendations for May 23, 2013
May 23, 2013 8:15 am
Overview
From the today’s H4 chart, the metal is still trading between the Support level 22.00 and below the Resistance level 23.00 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 22.00 again. Presently we suggest waiting for closing above the Resistance level 23.00 in case of bouncing from the Support level 22.00 to give us a new opportunity for more buy signals with the first target few pips below the Resistance level 23.90, then after breaking this Resistance level silver would open the way towards the Resistance level 24.40, which means more bullish signals.
Resistance and support levels: R3 (24.40) R2 (23.90) R1 (23.00) S1 (22.00) S2 (21.00)
The material has been provided by InstaForex Company – www.instaforex.com
Overview
From the today’s H4 chart, the metal is still trading between the Support level 22.00 and below the Resistance level 23.00 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 22.00 again. Presently we suggest waiting for closing above the Resistance level 23.00 in case of bouncing from the Support level 22.00 to give us a new opportunity for more buy signals with the first target few pips below the Resistance level 23.90, then after breaking this Resistance level silver would open the way towards the Resistance level 24.40, which means more bullish signals.
Resistance and support levels: R3 (24.40) R2 (23.90) R1 (23.00) S1 (22.00) S2 (21.00)
The material has been provided by InstaForex Company – www.instaforex.com
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