Tickmill
Long

XAGUSD near key support could possibly bounce

OANDA:XAGUSD   Silver / U.S. Dollar

XAGUSD is approaching our first support at 14.36 (horizontal swing high resistance, 61.8% Fibonacci extension , 78.6% Fibonacci retracement ) where a strong bounce might occur pushing the price up to our major resistance at 14.98(horizontal swing low support, ,38.2% Fibonacci retracement , 100% Fibonacci extension ). Stochastic is also approaching support.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
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This analysis is provided as general market commentary and does not constitute investment advice.
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