Overview
As it is seen in today’s H4 chart, the metal is stabilizing above the Support level of 19.20 after its failure to break the Support level of 18.90 yesterday. Currently, we should wait for the retesting of the Support level again and closing below it to get the bearish move opportunity. In that case we will get a good opportunity to sell below the Support level till testing the next Support level of 18.90. Therefore, we can consider our first target a few pips above this Support level, but as long as the price is still above the Support level of 19.20, this cancels the bearish move scenario.
Resistance and support levels: R3 (20.20), R2 (19.75), R1 (19.50), S1 (19.20), S2 (18.90), S3(18.50).
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Performed by Hossam Soliman Ali, Analytical expert InstaForex Group © 2007-2014 |
Daily analysis of Silver for April 25, 2014
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