ICmarkets
Short

XAGUSD is Approaching Resistance, Potential Reversal

FX:XAGUSD   Silver / U.S. Dollar
XAGUSD is approaching its resistance at 14.51 (100% & 61.8% Fibonacci extension , 61.8% Fibonacci retracement , horizontal overlap resistance) where it could potentially reverse to its support at 14.28 (100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal swing low support). Stochastic (89, 5, 3) is approaching its support at 92% where a corresponding reversal could occur.

Get real-time trading updates at our official Telegram group : https://t.me/ICMarketsroom
Stochastic near oversold level. Also there is a nice divergence between price and the indicator movement. The indicator shows lower highs while the price shows higher highs. This leaves me with an overall bearish bias. Good trading idea.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out