FX.co ★ Daily analysis of Silver for March 05, 2014

Overview 

According to our last week expections, the price’s close below the Support level of 21.25 will give new opportunities for sell signals. Currently, the metal has already managed to close below the Support level to trade below and open the way towards the support level of 20.90 as the first target, then the metal must test the Support level firstly to get more bearish move till reaching the level of 20.50 as the second target. On the other hand, the metal's rebound from the Support level of 20.90 cancels bearish scenario.

Resistance and support levels: R3 (22.00), R2 (21.75), R1 (21.25), S1 (20.90), S2 (20.50), S3(20.00).