Tickmill
Short

XAGUSD approaching resistance, potential drop!

OANDA:XAGUSD   Silver / U.S. Dollar
XAGUSD is approaching our first resistance at 15.59 (horizontal pullback resistance, 50% Fibonacci retracement ) where a strong drop might occur below this level to our major support at 15.36 (38.2% Fibonacci retracement ).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
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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