XAG/USD: technical analysis
XAG/USD, H4
On the 4-hour chart, the instrument was corrected towards the moving average of Bollinger bands, which acts as a key support. The indicator is directed sideways, and the price range is limited, which indicates the continuation of the correction. The MACD histogram is at the zero line, the signal to enter the market is not formed.
XAG/USD, D1
On the daily chart, the instrument consolidated at the bottom of Bollinger bands. The indicator is directed downwards, and the price range has slightly decreased, the sell signal is relevant. MACD is in the negative zone, maintaining a sell signal.
Key levels
Resistance levels: 17.20, 17.43, 17.64, 17.91.
Support levels: 16.95, 16.84, 16.70, 16.42, 16.12.
Trading tips
Short positions may be opened from the current level with the target at 16.15 and stop loss 17.20.
Long positions may be opened above the level of 17.25 with the target at 17.90 and stop loss 16.95.
Implementation period: 2–4 days.
Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 16.98
Take Profit 16.15
Stop Loss 17.20
Key Levels 16.12, 16.42, 16.70, 16.84, 16.95, 17.20, 17.43, 17.64, 17.91
Alternative scenario
Recommendation BUY STOP
Entry Point 17.27
Take Profit 17.90
Stop Loss 16.95
Key Levels 16.12, 16.42, 16.70, 16.84, 16.95, 17.20, 17.43, 17.64, 17.91
On the 4-hour chart, the instrument was corrected towards the moving average of Bollinger bands, which acts as a key support. The indicator is directed sideways, and the price range is limited, which indicates the continuation of the correction. The MACD histogram is at the zero line, the signal to enter the market is not formed.
XAG/USD, D1
On the daily chart, the instrument consolidated at the bottom of Bollinger bands. The indicator is directed downwards, and the price range has slightly decreased, the sell signal is relevant. MACD is in the negative zone, maintaining a sell signal.
Key levels
Resistance levels: 17.20, 17.43, 17.64, 17.91.
Support levels: 16.95, 16.84, 16.70, 16.42, 16.12.
Trading tips
Short positions may be opened from the current level with the target at 16.15 and stop loss 17.20.
Long positions may be opened above the level of 17.25 with the target at 17.90 and stop loss 16.95.
Implementation period: 2–4 days.
Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 16.98
Take Profit 16.15
Stop Loss 17.20
Key Levels 16.12, 16.42, 16.70, 16.84, 16.95, 17.20, 17.43, 17.64, 17.91
Alternative scenario
Recommendation BUY STOP
Entry Point 17.27
Take Profit 17.90
Stop Loss 16.95
Key Levels 16.12, 16.42, 16.70, 16.84, 16.95, 17.20, 17.43, 17.64, 17.91
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