London Session Watch - XAGUSD

FX:XAGUSD   Silver / U.S. Dollar
Silver has been rising since last Friday and is near the 19.32 resistance level . The overall trend for this market is still bearish as the price continues to stay below the 200 period moving average. There is a bearish engulfing bar candlestick pattern which could lead the price lower in todays London session. The current support level is at 19.00 and resistance level at 19.32. The Stochastic , Commodity Channel Index ( CCI ) and Relative Strength Index ( RSI ) are showing Silver is overbought at this price level which add fuels to the bears. We will keep an eye on this market in todays London session as it could potentially provide some nice shorting opportunities.
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