XAGUSD reversing nicely, watch for a further drop!

FX:XAGUSD   Silver / U.S. Dollar
XAGUSD is reversing nicely below major resistance at 16.80 ( Fibonacci retracement , horizontal resistance area , Fibonacci extension ) and a strong drop could occur from here pushing price down to 16.58 support ( Fibonacci retracement , horizontal pullback support).

Stochastic (34,5,3) is seeing strong resistance at 92% where a corresponding reaction could occur.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Guys, get more real-time updates on our trading ideas here : https://t.me/tickmillroom

This analysis is provided as general market commentary and does not constitute investment advice.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out