FX.co ★ Silver technical levels and trading recommendations for August 19, 2013

Overview

According to our last week expections, the price’s close below the Resistance level 23.40 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 22.80 as first target, then the metal must test the Support level 22.50 to get more bearish move till reaching 22.00 as second target. On the other hand, the metal's rebound from the Support level 22.80 cancels bearish scenario.

Resistance and support levels: R3 (23.90), R2 (23.40), S1 (22.80), S2 (22.50), S3 (22.00)