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.
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.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results