Silver now testing strong support, watch for a potential bounce!

FX:XAGUSD   Silver / U.S. Dollar
Silver is now testing major support at 16.63 ( Fibonacci retracement , Fibonacci extension , horizontal overlap support) and a strong bounce could occur at this level to push price up towards 16.96 resistance ( Fibonacci retracement , horizontal swing high resistance).

Stochastic (34,5,3) is seeing major support at 7% where a corresponding bounce could occur.

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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