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Short

XAGUSD approaching resistance, potential drop!

OANDA:XAGUSD   Silver / U.S. Dollar
XAGUSD is approaching our first resistance at 15.2609 (horizontal pullback resistance, 50% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 14.8020 (61.8% Fibonacci extension , 61.8% Fibonacci retracement , horizontal pullback support).
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

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