XAG/USD: technical analysis
17 May 2018, 11:02
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 16.33 |
| Take Profit | 16.50, 16.70 |
| Stop Loss | 16.24 |
| Key Levels | 15.58, 15.68, 16.03, 16.33, 16.50, 16.70 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 16.03 |
| Take Profit | 15.68, 15.58 |
| Stop Loss | 16.15 |
| Key Levels | 15.58, 15.68, 16.03, 16.33, 16.50, 16.70 |
XAG/USD, D1
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is about to test its quite strong support. The Composite is falling, having broken down its longer MA.
XAG/USD, H4
On the 4-hour chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that start turning down. The RSI is turning down, having failed its longer MA. The Composite is turning down towards its longer MA.
Key levels
Support levels: 16.03 (March lows), 15.68 (December 2016 lows), 15.58 (December 2017 lows).
Resistance levels: 16.33 (local highs), 16.50 (local highs), 16.70 (March highs).
Trading tips
The price is trading near the lower border of it sideways channel. There is a chance of an upward reverse.
Long positions can be opened from the level of 16.33 with targets at 16.50, 16.70 and stop-loss at 16.24. Validity – 3-5 days.
Short positions can be opened from the level of 16.03 with targets at 15.68, 15.58 and stop-loss at 16.15. Validity – 3-5 days.
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is about to test its quite strong support. The Composite is falling, having broken down its longer MA.
XAG/USD, H4
On the 4-hour chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that start turning down. The RSI is turning down, having failed its longer MA. The Composite is turning down towards its longer MA.
Key levels
Support levels: 16.03 (March lows), 15.68 (December 2016 lows), 15.58 (December 2017 lows).
Resistance levels: 16.33 (local highs), 16.50 (local highs), 16.70 (March highs).
Trading tips
The price is trading near the lower border of it sideways channel. There is a chance of an upward reverse.
Long positions can be opened from the level of 16.33 with targets at 16.50, 16.70 and stop-loss at 16.24. Validity – 3-5 days.
Short positions can be opened from the level of 16.03 with targets at 15.68, 15.58 and stop-loss at 16.15. Validity – 3-5 days.
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