Silver is testing major resistance at 17.21 (61.8% Fibonacci retracement, horizontal swing high resistance) and a strong reversal could potentially occur at this level to push price all the way down to 16.21 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance below 96% and a recent bearish exit signals that further downside movement could occur on price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) is seeing major resistance below 96% and a recent bearish exit signals that further downside movement could occur on price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results