XAG/USD: technical analysis
XAG/USD, H4
On the H4 chart, the instrument is testing the upper border of Bollinger Bands. The level of 16.90 is a strong resistance. The indicator reversed up, and the price range has expanded, indicating a further growth in the pair. MACD histogram is near the zero line, the signal for entering the market is not formed.
XAG/USD, D1
The D1 chart shows the correction of an uptrend. The instrument failed to consolidate above the moving average of Bollinger Bands. The indicator is directed sideways, and the price range has slightly expanded, indicating the continuation of the uptrend. MACD histogram is in the negative zone keeping a sell signal.
Key levels
Support levels: 16.78, 16.69, 16.41, 16.20.
Resistance levels: 16.92, 17.06, 17.21, 17.43.
Trading tips
Long positions may be opened above 16.90 with the target at 17.23 and stop-loss at 16.75. Implementation time: 1-3 days.
Short positions may be opened below the level of 16.75 with the target at 16.45 and stop-loss at 16.85. Implementation time: 1-2 days.
Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 16.93
Take Profit 17.23
Stop Loss 16.75
Key Levels 16.20, 16.41, 16.69, 16.78, 16.92, 17.06, 17.21, 17.43
Alternative scenario
Recommendation SELL STOP
Entry Point 16.73
Take Profit 16.45
Stop Loss 16.85
Key Levels 16.20, 16.41, 16.69, 16.78, 16.92, 17.06, 17.21, 17.43
On the H4 chart, the instrument is testing the upper border of Bollinger Bands. The level of 16.90 is a strong resistance. The indicator reversed up, and the price range has expanded, indicating a further growth in the pair. MACD histogram is near the zero line, the signal for entering the market is not formed.
XAG/USD, D1
The D1 chart shows the correction of an uptrend. The instrument failed to consolidate above the moving average of Bollinger Bands. The indicator is directed sideways, and the price range has slightly expanded, indicating the continuation of the uptrend. MACD histogram is in the negative zone keeping a sell signal.
Key levels
Support levels: 16.78, 16.69, 16.41, 16.20.
Resistance levels: 16.92, 17.06, 17.21, 17.43.
Trading tips
Long positions may be opened above 16.90 with the target at 17.23 and stop-loss at 16.75. Implementation time: 1-3 days.
Short positions may be opened below the level of 16.75 with the target at 16.45 and stop-loss at 16.85. Implementation time: 1-2 days.
Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 16.93
Take Profit 17.23
Stop Loss 16.75
Key Levels 16.20, 16.41, 16.69, 16.78, 16.92, 17.06, 17.21, 17.43
Alternative scenario
Recommendation SELL STOP
Entry Point 16.73
Take Profit 16.45
Stop Loss 16.85
Key Levels 16.20, 16.41, 16.69, 16.78, 16.92, 17.06, 17.21, 17.43
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