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Silver is testing major resistance,watch for potential reversal

Short
Silver / U.S. Dollar (FX:XAGUSD)  
Tickmill Broker  
FX:XAGUSD   Silver / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns Silver silveridea silverlong silvershort XAG USD ( Silver / US Dollar) xagusdshort xagusdlong xagusdidea xagusdtrade
92
2
trendanalysis harmonicpatterns chartpattern silver silveridea silverlong silvershort xagusd xagusdshort xagusdlong xagusdidea xagusdtrade
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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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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