Silver technical levels and trading recommendations for May 6, 2013

Overview:

The H4 chart demonstrates that bullish signals opportunity is still expected as long as the metal is trading above 23.90 and according to that, it will open the way towards the resistance level 25.00. Thus, we will get a good opportunity again after closing 4H above this resistance level with 25.50 as the first target. On the contrary, if the metal fails to break this resistance level and keeps its stabilization below it, it will cancel the first scenario.

Resistance and support levels: R3 (25.50) R2 (25.00) R1 (23.90) S1 (23.00) S2 (22.50) S3 (22.00)