XAG/USD, D1

On D1 chart the instrument is trading between the lower and middle lines of Bollinger Bands, price range is narrowed. MACD histogram is in the negative zone keeping a signal for the opening of short positions. Stochastic is in the neutral area, and the lines of the oscillator are directed upwards.

XAG/USD, H4

On the H4 chart the instrument corrected to the middle line of Bollinger Bands. MACD histogram is in the negative zone, the signal line is crossing the body of the histogram from above which is a sign for opening sell orders. Stochastic grows in the direction of the overbought zone.

Key levels

Support levels: 16.35, 16.20, 16.13.

Resistance levels: 16.50, 16.65, 16.80, 16.90, 16.95, 17.10, 17.30, 17.50, 17.70.

Trading tips

According to technical indicators, short positions could be opened from the current level with target at 16.15 and stop-loss at 16.65. Implementation period: 1-3 days.

Long positions may be opened from the level of 16.80 with target at 17.30. Stop Loss order will be placed at 16.50. Implementation period: 3-5 days.

Spot Silver

BuySellSpread
15.47315.40865

Scenario

TimeframeDay's Range
RecommendationsSELL
Entry Point16.40
Take Profit16.15
Stop Loss16.65
Support levels16.13, 16.20, 16.35, 16.50, 16.65, 16.80, 16.90, 16.95, 17.10, 17.30, 17.50, 17.70

Alternative scenario

RecommendationsBUY STOP
Entry Point16.80
Take Profit17.30
Stop Loss16.50
Support levels16.13, 16.20, 16.35, 16.50, 16.65, 16.80, 16.90, 16.95, 17.10, 17.30, 17.50, 17.70
XAG/USD: technical analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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