XAG/USD, D1

On the daily chart, the downward movement is in the correction, the instrument is trading between the lower border and the middle line of Bollinger bands. MACD histogram is in the negative zone, its volumes are growing, the signal line crosses the zero line and the histogram body downwards, giving a signal to open short positions. Stochastic is on the border with the oversold zone.

XAG/USD, H4

On the 4-hour chart, the instrument moves sideways within a narrow range formed by the borders of Bollinger bands. MACD histogram is in the negative area, smoothly reducing its volumes. Stochastic is preparing to leave the overbought zone, its lines are turned down.

Key Levels

Resistance levels: 16.10, 16.20, 16.39, 16.47, 16.60.

Support levels: 16.00, 15.90, 15.75, 15.50, 15.30.

Trading tips

Short positions can be opened at the level of 15.90 with the target at 15.50 and stop loss at the level of 16.10.

Long positions can be opened at the level of 16.20 with the target at 16.60 and stop loss 16.00.

Implementation period: 3–5 days.

Spot Silver

BuySellSpread
15.81915.75861

Scenario

TimeframeWeekly
RecommendationsSELL STOP
Entry Point15.90
Take Profit15.50
Stop Loss16.10
Support levels15.30, 15.50, 15.75, 15.90, 16.00, 16.10, 16.20, 16.39, 16.47, 16.60

Alternative scenario

RecommendationsBUY STOP
Entry Point16.20
Take Profit16.60
Stop Loss16.00
Support levels15.30, 15.50, 15.75, 15.90, 16.00, 16.10, 16.20, 16.39, 16.47, 16.60
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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