XAG/USD: technical analysis 25 May 2018, 10:32

XAG/USD: technical analysis

25 May 2018, 10:32

Scenario
Timeframe	Intraday
Recommendation	SELL
Entry Point	16.57
Take Profit	16.27
Stop Loss	16.67
Key Levels	16.00, 16.10, 16.20, 16.27, 16.35, 16.41, 16.50, 16.60, 16.67, 16.80, 16.90, 17.00, 17.10

Alternative scenario
Recommendation	BUY STOP
Entry Point	16.70
Take Profit	17.10
Stop Loss	16.50
Key Levels	16.00, 16.10, 16.20, 16.27, 16.35, 16.41, 16.50, 16.60, 16.67, 16.80, 16.90, 17.00, 17.10

XAG/USD, D1
On the daily chart, the instrument is traded between the upper border and the middle line of Bollinger bands. MACD histogram is in the zero line area, keeping the minimum volume, the signal line is directed horizontally. Stochastic is in the neutral zone, the oscillator lines are directed upwards.

XAG/USD, H4
On the 4-hour chart, the instrument drops toward the midline of Bollinger bands. MACD histogram is in the positive area, keeping a signal to open long positions. Stochastic crossed the border of the overbought area downwards.

Key Levels
Resistance levels: 16.60, 16.67, 16.80, 16.90, 17.00, 17.10.
Support levels: 16.50, 16.41, 16.35, 16.27, 16.20, 16.10, 16.00.
Trading tips
Short positions can be opened from the current level with the target at 16.27 and stop loss 16.67.
Long positions can be opened from the level of 16.70 with the target at 17.10 and stop loss 16.50.
Implementation period: 3–5 days.