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XAGUSD testing resistance, potential for a drop!

Por ICmarkets
Corretora
XAGUSD is testing its resistance at 16.949 (100% Fibonacci extension , 50% Fibonacci retracement , 61.8% Fibonacci retracement , horizontal swing high resistance) and could potentially fall to support area between 16.161 (L T 61.8% Fibonacci extension , 100% Fibonacci extension , swing low support) and 16.025 (61.8% Fibonacci extension , 78.6% Fibonacci retracement ). We have also identified a 2nd resistance at 17.101 (61.8% Fibonacci retracement , 76.4% Fibonacci retracement , horizontal pullback resistance).

RSI (55, 5, 3) shows a descending resistance that price is approaching which could lead to a corresponding fall in price.
Chart PatternsForexHarmonic PatternsSilversilverlongsilvershortTrend AnalysisUSDXAGXAG USD ( Silver / US Dollar)xagusdlongxagusdshort
ICmarkets
Corretora
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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