XAG/USD: technical analysis
15 August 2018, 12:41
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 15.05 |
| Take Profit | 15.25, 15.60 |
| Stop Loss | 14.90 |
| Key Levels | 13.95, 14.30, 14.60, 15.05, 15.25, 15.60 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 14.60 |
| Take Profit | 14.30, 13.95 |
| Stop Loss | 14.80 |
| Key Levels | 13.95, 14.30, 14.60, 15.05, 15.25, 15.60 |
XAG/USD, D1
On the daily chart, the instrument is trading below the lower line of the Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is testing the border of the oversold zone, beginning to form a Bullish divergence with the price. The Composite is showing similar dynamics.
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 are directed down. The RSI is about to test its most recent support. The Composite has turned down as well, having retested its longer MA.
Key levels
Support levels: 14.60 (December 2015 highs), 14.30 (July 2017 lows), 13.95 (August 2015 lows).
Resistance levels: 15.05 (local highs), 15.25 (local highs), 15.60 (December 2017 lows).
Trading tips
The price is approaching the lower border of its long-term descending channel. The is a chance of an upward reverse.
Long positions can be opened from the level of 15.05 with targets at 15.25, 15.60 and stop-loss at 14.90. Validity – 3-5 days.
Short positions can be opened from the level of 14.60 with targets at 14.30, 13.95 and stop-loss at 14.80. Validity – 3-5 days.
On the daily chart, the instrument is trading below the lower line of the Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is testing the border of the oversold zone, beginning to form a Bullish divergence with the price. The Composite is showing similar dynamics.
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 are directed down. The RSI is about to test its most recent support. The Composite has turned down as well, having retested its longer MA.
Key levels
Support levels: 14.60 (December 2015 highs), 14.30 (July 2017 lows), 13.95 (August 2015 lows).
Resistance levels: 15.05 (local highs), 15.25 (local highs), 15.60 (December 2017 lows).
Trading tips
The price is approaching the lower border of its long-term descending channel. The is a chance of an upward reverse.
Long positions can be opened from the level of 15.05 with targets at 15.25, 15.60 and stop-loss at 14.90. Validity – 3-5 days.
Short positions can be opened from the level of 14.60 with targets at 14.30, 13.95 and stop-loss at 14.80. Validity – 3-5 days.
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