Silver technical levels and trading recommendations for July 02, 2013
July 2, 2013 3:45 pm
Overview
Today’s H4 chart shows that the metal is still trading between the support level of 18.55 and below the resistance level of 19.55. After its failure to break the resistance level yesterday, silver bounced from it to take a slightly downward below the resistance level 19.55. Presently we suggest waiting for closing above the resistance level in case of continuing its upward movement to give us a new opportunity for more buy signals with the first target few pips below the resistance level 20.15, then after breaking of this resistance level, silver would open the way towards the resistance level of 20.50, which will give us more bullish signals.
Resistance and support levels: R3 (20.50) R2 (20.15) R1 (19.55) S1 (18.55) S2 (18.30)
The material has been provided by InstaForex Company – www.instaforex.com
Overview
Today’s H4 chart shows that the metal is still trading between the support level of 18.55 and below the resistance level of 19.55. After its failure to break the resistance level yesterday, silver bounced from it to take a slightly downward below the resistance level 19.55. Presently we suggest waiting for closing above the resistance level in case of continuing its upward movement to give us a new opportunity for more buy signals with the first target few pips below the resistance level 20.15, then after breaking of this resistance level, silver would open the way towards the resistance level of 20.50, which will give us more bullish signals.
Resistance and support levels: R3 (20.50) R2 (20.15) R1 (19.55) S1 (18.55) S2 (18.30)
The material has been provided by InstaForex Company – www.instaforex.com
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