Silver / U.S. DollarShort
XAGUSD approaching resistance, potential bounce!
XAGUSD is approaching our first resistance at 16.10 (Horizontal overlap resistance, 50% fiboancci retracement) and a strong drop might occur below this level pushing price down to our major support at 15.49 (Horizontal swing low support, 23.6% fibonacci retracement , 61.8% fibonacci extension).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding bounce in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding bounce in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.