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XAGUSD approaching support, potential for a bounce! XAGUSD is expected to drop to 1st support at 15.11395 where it could potentially react off and up to 1st resistance at 15.35743. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
OANDA:XAGUSDLong
by Pepperstone
1
XAGUSD approaching support, potential for a bounce!XAGUSD is expected to drop to 1st support at 15.11395 where it could potentially react off and drop down to 1st resistance at 15.35338 *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
OANDA:XAGUSDLong
by Pepperstone
Silver on pullback resistance, possible re-entry pointSilver has broken our long term ascending support-turned-resistance line stretching all the way back to December 2017 and has made a pullback to this level. This is always a good sign that bears are forcing their way back into the position. This break of our long term support-turned-resistance line has triggered a potential bearish drop from here below 17.03 (Fibonacci retracement, horizontal pullback resistance, bearish exit) for a push down to 16.21 support (Fibonacci retracement, horizontal pullback support). 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
1
Silver has broken major support, prepare for a possible drop!Silver has broken our long term ascending support-turned-resistance line stretching all the way back to December 2017. This has triggered a potential bearish drop from here below 17.03 (Fibonacci retracement, horizontal pullback resistance, bearish exit) for a push down to 16.21 support (Fibonacci retracement, horizontal pullback support). 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 being squeezed for a major move!Silver is seeing major resistance below 17.21 (61.8% Fibonacci retracement, horizontal swing high resistance) while an ascending support line continues to hold price up and squeeze it against this major resistance. A major move can occur in both directions in such scenarios. If price manages to break and close below our ascending support line, this could trigger a strong drop towards our major support at 16.21 (Fibonacci retracement, horizontal breakout level). It is worth noting that Gold which is positively correlated with Silver is also similarly below major resistance. 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 testing major resistance, possible upcoming reversal! Silver has started to react strongly off a major resistance level at 17.21 (61.8% Fibonacci retracement, horizontal swing high resistance) and a strong reaction could possibly occur at this level to drive price down to at least 16.21 support (Fibonacci retracement horizontal breakout level). Our next major level of resistance is at 17.64 (78.6% Fibonacci retracement, breakout resistance level). Stochastic (34,5,3) is seeing major resistance at 96% and a corresponding reaction could occur at this level. 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
1