XAG/USD: technical analysis

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On the D1 chart the pair was corrected to the middle line of Bollinger Bands . The price range has narrowed. MACD histogram is near the zero mark, and its volumes are minimal. Stochastic is located in the neutral zone with its lines directed downwards.


On the H4 chart the instrument is moving in the side channel formed by the middle and lower lines of Bollinger Bands . MACD histogram is on the negative area, and the signal line is crossing the zero mark and the body of the histogram from above indicating the opening of sell positions. Stochastic is in the neutral area with its signal line located horizontally.

Key levels

Support levels: 16.89, 16.75, 16.65, 16.50, 16.35.

Resistance levels: 17.05, 17.10, 17.20, 17.30, 17.50.

Trading tips

The opening of long positions seems preferable from the level of 17.05 with target at 17.50 and stop-loss at 16.85.

The opening of short positions is possible from the level of 16.75 with target at 16.35 and stop-loss at 16.95.

The period of implementation is 1-3 days.
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