Daily analysis of Silver for February 13, 2014 Trend News

Overview

In the today's H4 chart, the metal is still trading below the Resistance level of 20.20 and above the lower limits of the bullish channel keeping its move inside it. Currently, silver is testing these boundaries to start its bearish movement. So we should wait for breaking the support boundaries to create a new bearish opportunities. In that case the metal opens its way towards the Support level of 20.00, we should wait for its breaking this Support level to continue the bearish move. So we can consider our first target few pips above this Support level. After that, we should wait until it reaches the support level of 19.75 as the second target.

Resistance and support levels: R3 (20.75) R2 (20.50) R1 (20.20) S1 (20.00) S2 (19.75) S3 (19.50)

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