XAGUSD bounced off its support, potential to rise further
XAGUSD has bounced nicely off its support at 16.161 (100% Fibonacci extension, swing low support) where there may be potential for it to rise further to its resistance at 16.976 (100% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal swing high resistance). We have also found a 2nd support at 16.038 (61.8% Fibonacci extension, 78.6% Fibonacci retracement).
Stochastic (89, 5, 3) shows a corresponding bounce off its support at 2.71% where it has potential to rise to its resistance at 97.14%
Stochastic (89, 5, 3) shows a corresponding bounce off its support at 2.71% where it has potential to rise to its resistance at 97.14%
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.