Overview
Based on today's H4 chart, last week the metal took a bearish move and managed to break the Support level of 21.70 and closed below it. But rapidly it bounced from it to reverse its bearish direction. Currently, the metal is approaching the Resistance level of 22.15 to test it again. In case the metal closes the current 4H candle above the resistance level of 22.15 and according to that, it will open the way towards the resistance level of 22.50. Thus, we will get a good opportunity again after closing 4H above this resistance level with 22.80 as the first target. On the contrary, if the metal fails to break this resistance level and keeps its stabilization below it, it will cancel the bullish scenario.
Resistance and support levels: R3 (22.80), R2 (22.50), R1 (22.15), S1 (21.70), S2 (21.30), S3 (21.00).
