Tickmill

XAGUSD near key resistance, could possibly drop

Short
OANDA:XAGUSD   Silver / U.S. Dollar

XAGUSD is approaching its resistance at 14.97(100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 14.62 (38.2% Fibonacci retracement,61.8% Fibonacci extension, horizontal pullback
support).
Stochastic (89, 5, 3) is approaching its resistance where a corresponding reversal is expected

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.