FX.co ★ Silver technical levels and trading recommendations for June 24, 2013

Overview

As shown from the today's H4 chart, the metal is stabilizing above the Support level 19.75 after its failure to break the Support level again last week. Currently we must wait for re-testing the Support level again and closing below to get the bearish move opportunity. In that case we will get a good opportunity to sell below the Support level till testing the next Support level 19.50. Therefore, we can consider our first target few pips above this Support level, but as long as the price is still above the Support level 19.75 this cancels the bearish move scenario.

Resistance and support levels: R3 (21.50) R2 (21.00) R1 (20.50) S1 (19.75) S2 (19.50) S3 (19.00)