XAG/USD, D1

On D1 chart, the instrument was corrected to the upper border of Bollinger Bands. MACD histogram is near the zero level, and its volume is minimal, the signal line moves horizontally, along the zero mark. Stochastic grows in the direction of the border of the overbought area.

XAG/USD, H4

On the H4 chart, the instrument demonstrates side movement within the narrow corridor formed by the upper and middle borders of Bollinger Bands. MACD histogram is in the positive area. The signal line is crossing the body of the histogram from below giving a signal for opening long positions. Stochastic is located on the border of the neutral and oversold zones, the oscillator's lines are reversing up.

Key levels

Support levels: 16.67, 16.60, 16.50, 16.41, 16.35, 16.27, 16.20.

Resistance levels: 16.75, 16.80, 16.85, 16.90, 17.00.

Trading tips

Long positions may be opened from the current level with the target at 16.85 and stop-loss at 16.60.

Short positions may be opened from the level of 16.50 with the target at 16.20 and stop-loss at 16.60.

Implementation time: 3-5 days.

Spot Silver

BuySellSpread
15.54315.48558

Scenario

TimeframeDay's Range
RecommendationsBUY
Entry Point16.68
Take Profit16.85
Stop Loss16.60
Support levels16.20, 16.27, 16.35, 16.41, 16.50, 16.60, 16.67, 16.75, 16.80, 16.85, 16.90, 17.00

Alternative scenario

RecommendationsSELL STOP
Entry Point16.50
Take Profit16.20
Stop Loss16.60
Support levels16.20, 16.27, 16.35, 16.41, 16.50, 16.60, 16.67, 16.75, 16.80, 16.85, 16.90, 17.00
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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