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

Long
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) xagusdlong xagusdshort xagusdtrade xagusdanalysis
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trendanalysis harmonicpatterns chartpattern silver silveridea silverlong silvershort xagusd xagusdlong xagusdshort xagusdtrade xagusdanalysis
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.

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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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