Silver technical levels and trading recommendations for October 31, 2013
October 31, 2013 4:15 pm
Overview
As it was expected yesterday, more bearish signals would be available after breaking the Support level 22.40 yesterday, then the metal continued its downward move after breaking the Support level, which gave us another good opportunity to sell till reaching the Support level 22.00. Currently and as shown the metal hits the Support level 22.00 trying to break it through. Presently we suggest waiting for closing above this level to give us a new opportunity for a new buy signals with first target few pips below the Resistance level 22.40, then after breaking this Resistance level silver would open the way towards the Resistance level 23.00, which means more bullish signals.
Resistance and support levels: R3 (23.50) R2 (23.00) R1 (22.40) S1 (22.00) S2 (21.50) S3(21.20)
The material has been provided by InstaForex Company – www.instaforex.com
Overview
As it was expected yesterday, more bearish signals would be available after breaking the Support level 22.40 yesterday, then the metal continued its downward move after breaking the Support level, which gave us another good opportunity to sell till reaching the Support level 22.00. Currently and as shown the metal hits the Support level 22.00 trying to break it through. Presently we suggest waiting for closing above this level to give us a new opportunity for a new buy signals with first target few pips below the Resistance level 22.40, then after breaking this Resistance level silver would open the way towards the Resistance level 23.00, which means more bullish signals.
Resistance and support levels: R3 (23.50) R2 (23.00) R1 (22.40) S1 (22.00) S2 (21.50) S3(21.20)
The material has been provided by InstaForex Company – www.instaforex.com
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