FX.co ★ Daily analysis of Silver for September 11, 2014

Overview

According to our previous expectations, the price's close below the кesistance level of 19.00 will give new opportunities for sell signals. Currently, the metal has already managed to close below the Resistance level to trade below and open the way towards 18.75 as first target, then the metal must test the Support level of 18.50 to get more bearish move till reaching the level of 18.00 as second target. On the other hand, the metal's rebound from the Support level 18.50 cancels bearish scenario.

Resistance and support levels: R3 (19.20), R2 (19.00), R1 (18.75), S1 (18.50), S2 (18.00)