FX.co ★ Daily analysis of for Silver May 27, 2014

Overview

According to yesterday's expectations, the price’s close below the Support area of the upward trend line will give new opportunities for sell signals. Currently, the metal has already managed to close below the Support area then the Support level of 19.20 to trade below and open the way towards 19.00 which is tested right now .Firstly. The metal must test this Support level to get more bearish move till reaching 18.70 as second target. On the other hand, the metal's rebound from the Support level 19.00 cancels a bearish scenario.

Resistance and support levels: R3 (19.75), R2 (19.50), R1 (19.20), S1 (19.00), S2 (18.70)