Overview
According to our previous expectations, the prices close below the Resistance level of 19.90 will give new opportunities for sell signals. Currently, the metal has already managed to close below the Resistance level to trade below and open the way towards 19.50 as first target, then the metal must test the Support level of 19.20 to get more bearish move till reaching the level of 19.00 as a second target. On the other hand, the metal's rebound from the Support level of 19.50 cancels the bearish scenario.
Resistance and support levels: R3 (20.50),R2 (20.20), R1 (19.90), S1 (19.50), S2 (19.20), S3(19.00)
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 June 16, 2014 . Thanks for your support on Daily analysis of Silver for June 16, 2014
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