FX.co ★ Silver technical levels and trading recommendations for September 05, 2013

Overview

Like we expected yesterday, the price’s close below 23.90 gives new opportunities for sell-signals. Currently, the metal has already managed to break this level to trade below it and open the way towards 23.35 as the first target, then the metal should test the Support level of 22.80 to get more bearish move till reaching 22.50 as the second target. On the other hand, the metal's rebound from the Support level of 23.35 cancels bullish scenario.

Resistance and support levels: R3 (25.00) R2 (24.40) R1 (23.90) S1 (23.35) S2 (22.80) S3 (22.50)