Overview
As it was expected yesterday, more bearish signals would be available after breaking the Support level of 19.50, then the metal would continue its downward move in case of breaking this Support level, thus providing us with another good opportunity to sell till reaching the Support level of 19.20 which is being tested now. Currently and as shown here, the metal has hit the Support level of 19.20 and started to take a bullish move. Presently, we suggest waiting for closing above this level to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 19.50, then after breaking this Resistance level, the silver would open the way towards the Resistance level of 19.75, which means more bullish signals.
Resistance and support levels: R3 (20.00), R2 (19.75), R1 (19.50), S1 (19.20), S2 (18.90).
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Daily analysis of Silver for May 08, 2014 . Thanks for your support on Daily analysis of Silver for May 08, 2014
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