It is important to understand Support level and Resistance level as they are some of the most important parts in technical trading. When silver price breaks current resistance level, the current resistance level will become the support level for next trading range. Similarly when silver price breaks current support level, the current support level will become the resistance for next trading range.
The red color is the current resistance level, if price ever break the resistance, it will be a clear sign to enter the market as silver price is at the floor price for the new trading range. On another hand, if silver price breaks the current support level (in green color), it is a clear sign NOT to enter the market as silver price is at the sky price for the new trading range.
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