FX.co ★ Silver technical levels and trading recommendations for May 03, 2013

Overview

Proceeding from the H4 chart, it may be a good opportunity for bullish signals today in case the metal closes the current 4H candle above the resistance level 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 a 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)