XAG/USD: forecast and analysis

December 24, 2015

XAG/USD, D1

On the daily chart, the pair is trading in the upper Bollinger band. The price remains below the EMA130 and EMA65, both directed down. The RSI is testing its beginning of the month resistance. The Composite, however, is breaking out its resistance and is about to form a divergence with the price and the RSI suggesting a fall in the price.

XAG/USD, H4

On the 4-hour chart, the pair is trading in the upper Bollinger band while bands narrowed down. The price remains just below the 38.2% Fibonacci fan line but above its moving averages directed up. The RSI is showing choppy dynamics below its resistance near the overbought zone. The Composite is just above its MA’s. Both indicators are forming a divergence with the price.

Key levels

Support levels: 14.20 (local lows), 14.10 (middle MA of Bollinger Bands on the daily chart), 13.90 (end of November lows).

Resistance levels: 14.38 (local highs), 14.55 (active trade), 14.63 (61.8% Fibonacci retracement).

Trading tips

Short positions can be opened from the level of 14.15 with the target at 13.75 and stop-loss at 14.33. Validity – 2-4 days.

Long positions can be opened from the level of 14.39 with the target at 14.55 and stop-loss at 14.32. Validity – 1-2 days. 

Publication source
LiteForex information  LiteForex reviews

December 6, 2016
Shale sector tries to reap the gains of the OPEC deal
The prices extend gains after OPEC’s output cut deal brings short-term optimism. Forward market shows that the US oil producers are rushing to lock the profit, selling oil contracts for above $50 a barrel at the start of 2018...
December 5, 2016
Crisis Lite
The Italian referendum on constitutional reform saw voters reject the proposals in front of them, in a fairly decisive manner. As such, Italian PM Renzi will tender his resignation today and this became part of the issue...
December 2, 2016
Oil may remain above $50
The Oil price continued to push higher today reaching its highest level in over a year with some predicting that the OPEC deal reached yesterday was a game changer and further gains are expected...

EXNESS Rating
OctaFX Rating
XM Rating
Vantage FX Rating
FBS Rating
FxPro Rating

Grand Option Rating
Empire Option Rating
OptionRally Rating
24option Rating
IQ Option Rating
Porter Finance Rating