XAG/USD, D1

On the D1 chart there is a correction of the downward movement and the instrument is traded in the side channel between the lower and center lines of Bollinger Bands. MACD histogram is in the negative zone, the signal line is crossing the zero level and the body of the histogram from above, which is a signal to open short positions. Stochastic is in the neutral zone, and the lines of the oscillator are directed downwards.

XAG/USD, H4

On the H4 chart there is sideways movement of the instrument within the narrow range formed by the boundaries of Bollinger Bands. MACD histogram is near the zero level, and the signal line is moving horizontally. Stochastic demonstrates sideways movement within the neutral area, and the oscillator lines are directed downwards.

Key levels

Resistance levels: 15.43, 15.52, 15.60, 15.75, 15.90, 16.00.

Support levels: 15.30, 15.13.

Trading tips

According to technical indicators, short positions could be opened from the current level with target at 15.13 and stop loss at 15.60.

Long positions may be opened from 15.75 with target at 16.00. Stop loss — 15.60.

Implementation period: 3-5 days.

Spot Silver

BuySellSpread
14.84614.78660

Scenario

TimeframeWeekly
RecommendationsSELL
Entry Point15.42
Take Profit15.13
Stop Loss15.60
Support levels15.13, 15.30, 15.43, 15.52, 15.60, 15.75, 15.90, 16.00

Alternative scenario

RecommendationsBUY STOP
Entry Point15.75
Take Profit16.00
Stop Loss15.60
Support levels15.13, 15.30, 15.43, 15.52, 15.60, 15.75, 15.90, 16.00
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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