empty
 
 
26.09.2014 03:18 PM
Daily analysis of Silver for September 26, 2014
This image is no longer relevant

Overview

As it is seen from today's 4H chart, the metal is stabilizing above the support level of 17.50 after its failure to break the support level of 17.30 and has bounced from it. Currently, we should wait for retesting of the support level of 17.50again and closing below it to get the bearish move opportunity. In that case, we will get a good opportunity to sell below the support level till testing the next support level of 17.30. Therefore, we can consider our first target a few pips above this support level, but as long as the price is still above the support level of 17.50, this cancels the bearish move scenario.

Resistance and support levels: R3 (18.30), R2 (18.00), R1 (17.75), S1 (17.50), S2 (17.30), S3(17.00).

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback