FX.co ★ Silver technical levels and trading recommendations for November 26, 2013

Overview

The H4 chart demonstrates today that silver is still trading above the Support level 19.70 and below the resistance level of 20.20 after its rebound from the Resistance level yesterday, so we should wait. Given the metal manages to close 4H below this Support level, there will be a good opportunity to sell till reaching the support level of 19.40 after closing 4H below it. After that we should wait for breaking out this support level to continue the bearish move. In case silver is able to break the support level of 18.30 and closes 4H below, we will get bearish strength which will provide new sell signals and enable the support level of 19.00 as a target level.

Resistance and support levels: R3 (21.00), R2 (20.50), R1 (20.20), S1 (19.70), S2 (19.40), S3(19.00)