XAG/USD, D1On D1 chart the instrument is trading in a narrow range of 16.93-17.00. The Bollinger Bands are directed upwards, while the price range has widened which is a reason for the preservation of the upward trend. The nearest strong support level is 17.00, and breaking through it will be a signal for the opening of long positions. MACD histogram is in the positive zone, keeping a strong buy signal. Stochastic entered the oversold area, and there is no signal for entering the market.
XAG/USD Daily Chart
XAG/USD, H4On the H4 chart, the instrument corrected to the middle line of the Bollinger Bands. As in the D1 chart, the key resistance is the level of 17.00. The indicator has reversed downwards, and the price range has widened indicating the continuation of the current trend. MACD histogram is in the neutral zone with its volumes slightly reducing and forming a weak sell signal. Stochastic is approaching the oversold zone from above and does not give a clear signal for opening positions.
Key levelsSupport levels: 16.45, 16.60, 16.71, 16.95, 16.68.Resistance levels: 17.00, 17.15, 17.25, 17.35, 17.48.Trading tipsLong positions may be opened above the level of 17.00 with the target at 17.45 and stop-loss at 16.85. Implementation time: 1-3 days.Short positions may be opened from the level of 16.85 with the target at 16.50 and stop-loss at 17.03. Implementation time: 2-4 days.