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XAGUSD approaching resistance, potential drop!
XAGUSD is approaching our first resistance at 16.83 (horizontal swing high resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement) where price might potentially drop to our major support at 16.33 (horizontal swing low support).
Stochastic (55,5,3) is also testing our resistance and a reaction off this level might be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also testing our resistance and a reaction off this level might be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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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