Silver spot Binary Technical November 1st 2011

November started with a slight drop in Silver prices. Binary traders should keep aware and follow the next few hours to see if the resistance lines do brake. Attached are the relevant lines for technical analysis.

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

  • Current range: 31.3910 to 35.6560.
  • Further levels in both directions: Below, for PUT Options: 33.3760, 32.5880, 32.1290 and 31.3910.
  • Above, for  CALL options: 34.5300, 35.0680, 35.4090 and 35.6560.
  • Very important support but still far, at 35.4090
  • Very important resistance is at 33.3760

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.

More on Gold Binary Options, read our weekly gold binary options setup.

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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