XAG/USD, D1
On the daily chart, the downward movement is in the correction, the instrument is trading between the lower border and the middle line of Bollinger bands. MACD histogram is in the negative zone, its volumes are growing, the signal line crosses the zero line and the histogram body downwards, giving a signal to open short positions. Stochastic is on the border with the oversold zone.
XAG/USD, H4
On the 4-hour chart, the instrument moves sideways within a narrow range formed by the borders of Bollinger bands. MACD histogram is in the negative area, smoothly reducing its volumes. Stochastic is preparing to leave the overbought zone, its lines are turned down.
Key Levels
Resistance levels: 16.10, 16.20, 16.39, 16.47, 16.60.
Support levels: 16.00, 15.90, 15.75, 15.50, 15.30.
Trading tips
Short positions can be opened at the level of 15.90 with the target at 15.50 and stop loss at the level of 16.10.
Long positions can be opened at the level of 16.20 with the target at 16.60 and stop loss 16.00.
Implementation period: 3–5 days.
Trade
Scenario
Timeframe Weekly
Recommendation SELL STOP
Entry Point 15.90
Take Profit 15.50
Stop Loss 16.10
Key Levels 15.30, 15.50, 15.75, 15.90, 16.00, 16.10, 16.20, 16.39, 16.47, 16.60
Alternative scenario
Recommendation BUY STOP
Entry Point 16.20
Take Profit 16.60
Stop Loss 16.00
Key Levels 15.30, 15.50, 15.75, 15.90, 16.00, 16.10, 16.20, 16.39, 16.47, 16.60
On the daily chart, the downward movement is in the correction, the instrument is trading between the lower border and the middle line of Bollinger bands. MACD histogram is in the negative zone, its volumes are growing, the signal line crosses the zero line and the histogram body downwards, giving a signal to open short positions. Stochastic is on the border with the oversold zone.
XAG/USD, H4
On the 4-hour chart, the instrument moves sideways within a narrow range formed by the borders of Bollinger bands. MACD histogram is in the negative area, smoothly reducing its volumes. Stochastic is preparing to leave the overbought zone, its lines are turned down.
Key Levels
Resistance levels: 16.10, 16.20, 16.39, 16.47, 16.60.
Support levels: 16.00, 15.90, 15.75, 15.50, 15.30.
Trading tips
Short positions can be opened at the level of 15.90 with the target at 15.50 and stop loss at the level of 16.10.
Long positions can be opened at the level of 16.20 with the target at 16.60 and stop loss 16.00.
Implementation period: 3–5 days.
Trade
Scenario
Timeframe Weekly
Recommendation SELL STOP
Entry Point 15.90
Take Profit 15.50
Stop Loss 16.10
Key Levels 15.30, 15.50, 15.75, 15.90, 16.00, 16.10, 16.20, 16.39, 16.47, 16.60
Alternative scenario
Recommendation BUY STOP
Entry Point 16.20
Take Profit 16.60
Stop Loss 16.00
Key Levels 15.30, 15.50, 15.75, 15.90, 16.00, 16.10, 16.20, 16.39, 16.47, 16.60