Silver / U.S. DollarShort
XAGUSD testing resistance, potential drop!
Price is testing our first resistance at 15.21 (horizontal pullback resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension, Elliot wave structure) where a strong reaction could occur below this level pushing price down to our major support at 14.78 (horizontal pullback support, 100% fibonacci extension, 38.2% fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price.
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 drop in price.
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.