empty
25.09.2012 03:07 PM
Silver Technical Levels and Trading Recommendatios for September 25, 2012

This image is no longer relevant

 


Overview


The H4 chart shows today that silver is still trading between the Support level 33.90 and the Resistance level of 34.25. In case that silver continues its bearish view and manages to break this Support level, it will provide a good opportunity to sell below the Support level as well as will make it possible to reach the Support level of 32.50 as a level target. After that we should wait for breaking out of this Support level to continue the bearish move. In case silver is able to break the Support level of 32.25 and closes 4H below, we will get a bearish strength which will provide new sell signals and enable the Support level of 32.65 as a level target.
On the other hand, if silver reverses its bearish move and takes an upward direction after its rebound from the Support level 33.90 , this will be a strong indicator for the bullish move after closing 4H above the Support level enabling the Resistance level 34.25 again. In this case, we should wait for breaking this Resistance level to continue the bullish view. Based on the given H4 chart, the technical indicators provide sell signals, but as long as the Support level of 33.90 is unbroken, the upward move is still expected and invalidating the downward movement. Therefore, we should wait for more confirmations before making the decision.


Resistance and Support levels

R3(35.60)
R2(35.00)
R1(34.25)
S1(33.90)
S2(33.25)
S3(32.65)


Trading Recommendations

According to previous analysis, we recommend selling in case of closing 4H below the Support level 33.90 with TP 33.35; SL closing 4H above the Support level might be appropriate.

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
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

Recommended Stories

Forex forecast 21/02/2025: EUR/USD, GBP/USD, SP500 and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 15:22 2025-02-21 UTC+2

Trading Signals for GOLD (XAU/USD) for February 21-24, 2025: buy above $2,933 (21 SMA - 6/8 Murray)

We believe that if the metal consolidates above 2,933 in the next few hours, we could expect it to continue rising until it reaches the 6/8 Murray located at 2,968

Dimitrios Zappas 13:52 2025-02-21 UTC+2

EUR/USD. February 21st. A Crucial Day for the Euro

On Thursday, the EUR/USD pair continued its upward movement following a rebound from the 61.8% Fibonacci retracement level at 1.0411. By the end of the day, the pair climbed towards

Samir Klishi 12:05 2025-02-21 UTC+2

GBP/USD. February 21st. The British Pound Receives Its First Positive Signal

On the hourly chart, the GBP/USD pair secured itself above the resistance zone of 1.2611–1.2642 on Thursday, allowing for expectations of further growth towards the next resistance area at 1.2709–1.2734

Samir Klishi 12:00 2025-02-21 UTC+2

EUR/USD and GBP/USD – February 21 Technical Analysis

During the first half of the week, bearish traders executed a corrective decline down to the daily short-term trend level at 1.0404. However, by the last working day, the currency

Evangelos Poulakis 07:22 2025-02-21 UTC+2

EUR/USD Forecast for February 21, 2025

On Thursday, the EUR/USD pair rose by 80 pips, decisively surpassing the resistance level at 1.0458. This move has established the range of 1.0534 to 1.0575 as a primary target

Laurie Bailey 03:48 2025-02-21 UTC+2

GBP/USD Forecast for February 21, 2025

By the end of yesterday's trading session, GBP/USD had gained 84 pips, successfully breaking through the resistance level at 1.2616 and paving the way toward 1.2708. If the price consolidates

Laurie Bailey 03:48 2025-02-21 UTC+2

Bitcoin Forecast for February 21, 2025

Bitcoin has chosen not to decline further toward key support levels. Instead, in response to the broader risk sentiment, it reversed from the lower boundary of the ascending price channel

Laurie Bailey 03:48 2025-02-21 UTC+2

EUR/USD – February 20th: FOMC Concerns Over Trump's Policies

On Wednesday, EUR/USD continued its downward movement, reaching the 61.8% Fibonacci retracement level at 1.0411. A rebound from this level would favor the euro's recovery towards 1.0458 and 1.0533. Conversely

Samir Klishi 10:45 2025-02-20 UTC+2

GBP/USD – February 20th: UK Inflation Fails to Support Bulls

On the hourly chart, GBP/USD rebounded for the third consecutive time from the 1.2611–1.2620 resistance zone, experiencing a slight decline toward the 61.8% Fibonacci retracement level at 1.2538. Today

Samir Klishi 10:42 2025-02-20 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.