XAGUSD is testing pivot, potential for a bounce

Price is approaching our pivot, which is in line with our graphical overlap support, 100% Fibonacci extension and 61.8% Fibonacci retracement. We see a medium probability bullish scenario above our pivot at 24.6544, with 1st resistance at 26.2631 as a possible target. Failure to hold above pivot would see price swing the other way towards 1st support at 23.4680. Stochastic is facing bullish pressure from our support at 5.21 as well.

Pivot: 24.6544
Supporting Points:
graphical overlap support, 100% Fibonacci extension and 61.8% Fibonacci retracement

1st Support: 23.4680
Supporting Points:
Graphical pullback support and 76.4% Fibonacci retracement

1st Resistance: 26.2631
Supporting Points:
graphical pullback resistance, 161.8%, 78.6% Fibonacci extension and 61.8% Fibonacci retracement
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