FX.co ★ Silver technical levels and trading recommendations for September 10, 2013

Overview

According to our last week expections, the price’s close below the Resistance level of 23.90 will give new opportunities for sell signals. Currently, the metal has already managed to close below the Resistance level, then the Support level of 23.35 below the bearish trendline and open the way towards 22.80 as the first target, then the metal should test this Support level 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 21.80 cancels the bearish scenario.

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