Klimex

XAGUSD Approaching Resistance, Potential Reversal

Short
FX_IDC:XAGUSD   Silver / U.S. Dollar
XAGUSD is approaching its resistance at 15.99 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse to its support at 15.59 (23.6% Fibonacci retracement, Horizontal pullback support 50% Fibonacci retracement).

Stochastic (89, 5, 3) is approaching its resistance at 99% where a corresponding reversal could occur.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.