On the daily chart the instrument has broken the middle line of Bollinger Bands upwards and continued to grow. MACD histogram is in the negative zone; the signal line is outside the histogram’s body and is reversing towards the zero line. Stochastic has crossed the border with the overbought zone upwards and is growing.
XAG/USD, H4
On the 4-hour chart the instrument is growing alongside the upper border of Bollinger Bands, the indicator’s borders are slightly widen, which can reflect the development of the upward trend in the short term. MACD histogram is in the positive zone, keeping the signal to open long positions. Stochastic is on the border with the overbought zone, giving no clear signal.
Key levels
Support levels: 16.20, 15.75, 15.50, 15.15, 14.35.