Silver Spot Binary Technical June 6th 2012

 Silver spot is moving back and forth on the chart in the 26.7490-30.2600 range for the past 2 weeks. These movements could bring trading opportunities to binary options traders.

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Here are the support and resistance lines the could produce great binary option trading opportunities:

  • Current range: 26.7490 to 30.2600.
  • Further levels in both directions: Below, for PUT Options: 28.1100, 27.6148, 27.2680 and 26.7490.
  • Above, for CALL options: 28.6840, 29.0330, 29.2970 and 30.2600.
  • Very important support, at 28.6840. This is a very close step.
  • Very important resistance is at 27.2680, might be closer than appears.
  • Chart is on a 4 hour scale.

Click here to enlarge the graph.

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These expected market reactions and setups are general market commentary. This is by no means any type of investment advice.

The data for these news events has been analyzed given previous releases and reactions, current market conditions and more. Significant surprises to market consensus, as given by surveys of economists, normally trigger sharp market reactions that proceed for a long period of time. When some events collide with each other, they can offset each other. So, these events aren’t in the list.

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