Daily analysis of Silver for October 02, 2014 Market Analysis Review

Overview

According to our last expections, the price's close below the Support level of 17.30 will give new opportunities for sell signals. Currently, the metal has already managed to close below the Support level to trade below and open the way towards the support level of 17.00 as the first target which is tested now. Metal must break the Support level firstly to get more bearish move till reaching the level of 16.80 as the second target. On the other hand, the metal's rebound from the Support level of 16.80 cancels bearish scenario.

Resistance and support levels: R3 (17.50), R2 (17.30), R1 (17.00), S1 (16.80), S2 (16.50).

The material has been provided by InstaForex Company - www.instaforex.com



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