Silver technical levels and trading recommendations for July 03, 2013
July 3, 2013 4:30 pm
Overview
As it was expected yesterday, the metal could continue its upward move after closing above the resistance level of 19.55. Today, as shown on the H4 chart, the metal took a slightly upward move after it has managed to close 4H above the resistance level of 19.55. More bullish signals are expected as long as silver is trading above this resistance level with first target few pips below the resistance level of 20.15. But if silver closes 4H below the resistance level today, we should wait for testing the support area of 8.55-18.30 before making the decision and also cancel the bullish move scenario.
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
As it was expected yesterday, the metal could continue its upward move after closing above the resistance level of 19.55. Today, as shown on the H4 chart, the metal took a slightly upward move after it has managed to close 4H above the resistance level of 19.55. More bullish signals are expected as long as silver is trading above this resistance level with first target few pips below the resistance level of 20.15. But if silver closes 4H below the resistance level today, we should wait for testing the support area of 8.55-18.30 before making the decision and also cancel the bullish move scenario.
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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