Get started

XAG-USD

Silver approaching supply area, could a reversal occur?Price is approaching an area of resistance at 16.31 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) and a strong reaction could occur at this level. Our next level of major resistance is at 16.63 (38.2% Fibonacci retracement, horizontal pullback resistance) and our next major level of support is at 15.62 (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is seeing major resistance at 99% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver approaching major resistance!Silver is seeing major resistance at 16.313 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) and a strong reaction could occur at this level. The next major level of resistance is at 16.639 (Long term 38.2% retracement, horizontal pullback resistance) and the next major level of support is at 15.62 (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is also seeing major resistance below our 99% level and stochastic could rise to that level before having a corresponding reaction. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
XAG/USD faces significant resistanceFollowing a mediate-term decline that ended in early July, XAD/USD started to trade in an ascending channel. Its highest peak was reached on September 8 when the pair tested a four-month high at 18.18. Subsequently, another pattern—a falling wedge—was formed. Given the narrow range of the latter, it might be assumed that a breakout is likely to occur in the upcoming hours. Descending wedge is generally a bullish pattern that is formed as a minor correction against the overall up-trend. Taking this into account, Silver should push north even before reaching the lower channel boundary. Technical indicators demonstrate that the rate should remain relatively stable both on daily and weekly time-frames, thus breaching the wedge to the upside. However, the 55-, 100– and 200-hour SMAs must be surpassed to realise the above scenario.
FX:XAGUSD
by UnknownUnicorn890690
XAG/USD Channel DownThe decision to review the situation on the Silver charts was made due to the alternative it possesses to the safe investment of Japanese Yen, Swiss Franc and Gold. The metal trades simultaneously in three various channels. On a large and medium scale patterns the metal is trading in ascending channel patterns. However, it might be more relative to day traders that the commodity price is descending in channel down pattern in the short term. By the end of the week the metal’s price should reach the lower trend line of the most dominant channel near the 16.80 level. However, it faces the support of the 100-period SMA before reaching that level.
FX_IDC:XAGUSD
by UnknownUnicorn890690