Overview
From the today’s H4 chart, silver is still stabilizing above the Support level of 19.00 and could not break it and currently is bouncing from it towards the Resistance level of 19.20. So, we still suggest waiting for closing above the Resistance level in case of bouncing from the Support level of 19.00 to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 19.20, then after breaking this Resistance level silver would open the way towards the Resistance level of 19.50, which means more bullish signals, but as long as the metal trades below the Resistance level of 19.20 this cancels the bullish scenario.
Resistance and support levels: R3 (19.75), R2 (19.50), R1 (19.20), S1 (19.00), S2 (18.70)
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Performed by Hossam Soliman Ali, Analytical expert InstaForex Group © 2007-2014 |
Daily analysis of Silver for May 28, 2014
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