Silver technical levels and trading recommendations for July 10, 2013
July 11, 2013 6:43 am
Overview
From the today’s H4 chart, silver is still stabilizing above the Support level 18.55 and could not break it and currently is bouncing from it towards the Resistance level 23.00. So we still suggest waiting for closing above the Resistance level in case of bouncing from the Support level 18.55 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 this Resistance level silver would open the way towards the Resistance level 20.50, which means more bullish signals, but as long as the metal trades below the Resistance level 19.55 this cancels the bullish 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
From the today’s H4 chart, silver is still stabilizing above the Support level 18.55 and could not break it and currently is bouncing from it towards the Resistance level 23.00. So we still suggest waiting for closing above the Resistance level in case of bouncing from the Support level 18.55 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 this Resistance level silver would open the way towards the Resistance level 20.50, which means more bullish signals, but as long as the metal trades below the Resistance level 19.55 this cancels the bullish 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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