XAG/USD: technical analysis
23 May 2018, 10:59
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 16.35 |
| Take Profit | 16.05, 15.95 |
| Stop Loss | 16.55 |
| Key Levels | 15.95, 16.05, 16.35, 16.75, 16.95, 17.05 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 16.75 |
| Take Profit | 16.95, 17.05 |
| Stop Loss | 16.60 |
| Key Levels | 15.95, 16.05, 16.35, 16.75, 16.95, 17.05 |
XAG/USD, D1
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains just below its moving averages that are horizontal. The RSI is testing from below its longer MA. The Composite is growing, having broken out its longer MA.
XAG/USD, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains on the level with its moving averages that are horizontal. The RSI turned down just below the border of the overbought zone. The Composite is falling, having broken down its longer MA.
Key levels
Support levels: 16.35 (local lows), 16.05 (March lows), 15.95 (April lows).
Resistance levels: 16.75 (March highs), 16.95 (local highs), 17.05 (local highs).
Trading tips
The price keeps trading in a sideways channel. There is a chance of a downward correction.
Short positions can be opened from the level of 16.35 with targets at 16.05, 15.95 and stop-loss at 16.55. Validity – 3-5 days.
Long positions can be opened from the level of 16.75 with targets at 16.95, 17.05 and stop-loss at 16.60. Validity – 3-5 days.
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains just below its moving averages that are horizontal. The RSI is testing from below its longer MA. The Composite is growing, having broken out its longer MA.
XAG/USD, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains on the level with its moving averages that are horizontal. The RSI turned down just below the border of the overbought zone. The Composite is falling, having broken down its longer MA.
Key levels
Support levels: 16.35 (local lows), 16.05 (March lows), 15.95 (April lows).
Resistance levels: 16.75 (March highs), 16.95 (local highs), 17.05 (local highs).
Trading tips
The price keeps trading in a sideways channel. There is a chance of a downward correction.
Short positions can be opened from the level of 16.35 with targets at 16.05, 15.95 and stop-loss at 16.55. Validity – 3-5 days.
Long positions can be opened from the level of 16.75 with targets at 16.95, 17.05 and stop-loss at 16.60. Validity – 3-5 days.
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