Tickmill
Short

Silver is testing major resistance,watch for potential reversal

FX:XAGUSD   Silver / U.S. Dollar
Silver has been rising strong and is now testing major 50% resistance at 16.91 ( Fibonacci retracement , Elliott wave structure, horizontal swing high resistance) and a strong reaction could occur at this level to push price all the way down to 16.48 support ( Fibonacci retracement , horizontal overlap support).

Stochastic (34,5,3) is seeing major resistance at 95% where a corresponding reaction could occur.

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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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