Silver technical levels and trading recommendations for June 25, 2013
June 25, 2013 4:00 pm
Overview
Like it was expected yesterday, the metal will continue its downward move in case of breaking the Support level 19.75. Today and as shown the metal already broke the it and currently is trading below it. Presently the pair is approaching the support level 19.50. If the metal manages to break this support level and closes 4H below, more bearish move is still expected with more sell signals till reaching the support level 19.00, therefore we can consider our first target few pips above this support level. But as long as silver trades above this support level 19.50, this cancels the bearish move scenario.
Resistance and support levels: R3 (21.50) R2 (21.00) R1 (20.50) S1 (19.75) S2 (19.50) S3 (19.00)
The material has been provided by InstaForex Company – www.instaforex.com
Overview
Like it was expected yesterday, the metal will continue its downward move in case of breaking the Support level 19.75. Today and as shown the metal already broke the it and currently is trading below it. Presently the pair is approaching the support level 19.50. If the metal manages to break this support level and closes 4H below, more bearish move is still expected with more sell signals till reaching the support level 19.00, therefore we can consider our first target few pips above this support level. But as long as silver trades above this support level 19.50, this cancels the bearish move scenario.
Resistance and support levels: R3 (21.50) R2 (21.00) R1 (20.50) S1 (19.75) S2 (19.50) S3 (19.00)
The material has been provided by InstaForex Company – www.instaforex.com
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