Silver technical levels and trading recommendations for August 30, 2013
September 2, 2013 8:15 am
Overview
According to our last expections, the price’s close below the bullish trend line and the Support level 23.90 will give new opportunities for sell signals. Currently the metal has already managed to close below the Support level to trade below and open the way towards 22.80 as first target, then the metal must test the Support level 22.50 to get more bearish move till reaching 22.00 as second target. On the other hand, the metal’s rebound from the Support level 23.35 cancels bearish scenario.
Resistance and support levels: R3 (25.00), R2 (24.80), R1 (24.40), S1 (23.90), S2 (23.35)
The material has been provided by InstaForex Company – www.instaforex.com
Overview
According to our last expections, the price’s close below the bullish trend line and the Support level 23.90 will give new opportunities for sell signals. Currently the metal has already managed to close below the Support level to trade below and open the way towards 22.80 as first target, then the metal must test the Support level 22.50 to get more bearish move till reaching 22.00 as second target. On the other hand, the metal’s rebound from the Support level 23.35 cancels bearish scenario.
Resistance and support levels: R3 (25.00), R2 (24.80), R1 (24.40), S1 (23.90), S2 (23.35)
The material has been provided by InstaForex Company – www.instaforex.com
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