FX.co ★ Silver technical levels and trading recommendations for September 17, 2013

Overview

According to our last week expections, the price’s close below the Resistance level of 22.50 will give new opportunities for sell signals. Currently, the metal has already managed to close below the Resistance level to trade below and opened the way towards 21.70 as the first target, then the metal should test the Support level of 21.30 to get more bearish moves before reaching 21.00 as the second target. On the other hand, the metal's rebound from the Support level of 21.70 cancels bearish scenario.

Resistance and support levels: R3 (22.80), R2 (22.50), R1 (22.15), S1 (21.70), S2 (21.30), S3(21.00)