Overview
The H4 chart demonstrates today that silver has failed to break the Support level 19.75 and closed 4H above. Currently the metal is trading between it and the Resistance level 20.50. Given that silver tried again and managed to close 4H below the Support level 19.75 and takes a downward move till reaching the Support level 19.50, it provides a good opportunity to sell below the Support level after closing 4H below it. 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 19.50 and closes 4H below, we will get a bearish strength, which will provide new sell signals and enable the Support level of 19.00 as a target level.
Resistance and support levels: R3 (21.50) R2 (21.00) R1 (20.50) S1 (19.75) S2 (19.50) S3 (19.00)
