On the monthly chart the pair XAG/USD has reached strong resistance level of 16.10 (ЕМА200). At the same time fundamental data gives ground for breakout of this level and further rise in the pair. On all the charts from 4-hour to monthly the indicators OsMA and Stochastic give signals for long positions. In case of this scenario the nearest targets will be the levels of 17.10, 17.80 and 19.00. Otherwise, the price will break out the level 15.25 (ЕМА200 on 4-hour chart), 15.00 (ЕМА144 on the daily chart), 14.75 (lower line of the ascending channel on the daily chart) and go down to the lows of the year at the levels of 14.00 and 13.65. However, this scenario is unlikely due to the measures aimed at monetary policy easing by the US Fed and some other central banks
Support levels: 15.60, 15.40, 15.25, 15.00 and 14.75.
Resistance levels: 16.00, 16.10, 17.10, 17.80 and 18.00.
Sell Stop: 15.65. Stop-Loss: 15.85. Take-Profit: 15.25, 15.00 and 14.75.
Buy Stop: 16.20. Stop-Loss: 15.75. Take-Profit: 17.10, 17.80, 18.00 and 19.00.