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Silver technical levels and trading recommendations for October 08, 2013
October 8, 2013 3:45 pmVideo
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Overview
As it was expected yesterday, the metal could continue its upward move after closing above the resistance level of 22.00. 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 22.30. More bullish signals are expected as long as silver is trading above this resistance level and the upward trend line with first target few pips below the resistance level of 22.70. But if silver closes 4H below the resistance level today, we should wait for testing the support area of 22.00 again 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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