Overview
As it was expected yesterday, the metal would continue its downward direction after it managed to break the downward trendline yesterday. Today and as shown from the H4 chart the metal is trading below the Support level 23.00 which gives us more bearish signals after closing the current H4 candle below it. In that case we will have a good opportunity to sell with first target few pips above the Support level 22.50 then 22.00 as a second target. Then we should wait for breaking this Support level to continue the bearish move.
Resistance and support levels: R3 (25.00) R2 (24.40) R1 (23.90) S1 (23.00) S2 (22.50) S3 (22.00)