FX.co ★ Silver technical levels and trading recommendations for September 25, 2013

Overview

Today's H4 chart shows that we see the metal is still trading between the Support level of 21.70 and below the Resistance level of 22.15. After its failure to break the Support level of 21.30 more than once and bounce from it to take a slightly upward move and currently it is approaching the Resistance level of 22.15. Presently, we suggest waiting for closing above the Resistance level firstly to give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 22.50. After breaking this Resistance level, Silver would open the way towards the Resistance level of 22.80, which means more bullish signals.

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