Daily analysis of Silver for May 15, 2014 Trend News

Overview

In today's H4 chart, the metal is still trading between the Support level of 19.50 and the Resistance level of 19.75 after it failed to break the Resistance level of 20.00 yesterday and bounced from it to take a slightly downward move. Currently, it is approaching the Resistance level of 19.75. Presently, we suggest waiting for closing above this Resistance level in case of bouncing from the Support level to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 20.00, then after breaking this Resistance level silver would open the way towards the Resistance level of 20.20, which means more bullish signals.

Resistance and support levels: R3 (20.20), R2 (20.00), R1 (19.75), S1 (19.50), S2 (19.20), S3 (18.90).

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