XAGUSD approaching resistance, potential drop!

5 בנוב׳ 2018

XAGUSD is approaching our first resistance at 15.20 (horizontal pullback resistance, 100%, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 14.54 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price should it react off this level.
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