XAG/USD, D1

On D1 chart, the instrument broke through the middle line of Bollinger Bands, and after that, the decline slowed down. MACD histogram is near the zero level, and its volume is minimal, the signal line is moving horizontally. Stochastic is in the neutral zone, and the lines of the oscillator are pointing downwards.

XAG/USD, H4

On the H4 chart, the instrument declines along the lower border of Bollinger Bands, the price range is widened, which indicates a possible continuation of the downtrend. MACD histogram is in negative zone with its volumes gradually growing; the signal line is crossing its body from above, keeping the signal for the opening of short orders. Stochastic crossed the border of the oversold zone from above, the oscillator lines are reversing up.

Key levels

Support levels: 14.39, 14.33, 14.22, 14.15, 14.05, 13.99, 13.92.

Resistance levels: 14.43, 14.49, 14.60, 14.70, 14.77, 14.82, 14.89.

Trading tips

According to technical indicators, short positions could be opened from the current level with the target at 14.22 and stop loss at 14.50.

Long positions may be opened from the level of 14.60 with the target at 14.82 and stop loss at 14.49.

Implementation period: 3-5 days.

Spot Silver

BuySellSpread
14.40314.34855

Scenario

TimeframeDay's Range
RecommendationsSELL
Entry Point14.42
Take Profit14.22
Stop Loss14.50
Support levels13.92, 13.99, 14.05, 14.15, 14.22, 14.33, 14.39, 14.43, 14.49, 14.60, 14.70, 14.77, 14.82, 14.89

Alternative scenario

RecommendationsBUY STOP
Entry Point14.60
Take Profit14.82
Stop Loss14.49
Support levels13.92, 13.99, 14.05, 14.15, 14.22, 14.33, 14.39, 14.43, 14.49, 14.60, 14.70, 14.77, 14.82, 14.89
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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