Overview
From today's H4 chart, we see that the metal is still trading between the support level of 19.75 and below the resistance level of 20.00. Silver failed to break the resistance level yesterday and bounced from it. It took slightly downward move. Currently, it is approaching the support level of 19.75 again. Presently, we suggest waiting for closing above the resistance level of 20.00 in case it bounces from the support level to give us a new opportunity for more buy signals with the first target of few pips below the resistance level of 20.20. After breaking this resistance level, silver would open the way towards the Resistance level of 20.50, which means more bullish signals.
Resistance and support levels: R3 (20.50), R2 (20.20), R1 (20.00), S1 (19.75), S2 (19.50), S3(19.20)
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For detail explanation and best discovery on market trends you may visit via Daily analysis of Silver for August 07, 2014 . Thanks for your support on Daily analysis of Silver for August 07, 2014
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