Silver approaching supply area, could a reversal occur?

Price is approaching an area of resistance at 16.31 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) and a strong reaction could occur at this level. Our next level of major resistance is at 16.63 (38.2% Fibonacci retracement, horizontal pullback resistance) and our next major level of support is at 15.62 (Fibonacci extension, horizontal swing low support).

Stochastic (34,3,1) is seeing major resistance at 99% where a corresponding reaction could occur.

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Chart PatternsForexHarmonic PatternsSilversilvershortsilvtradeTrend AnalysisUSDXAGXAG USD ( Silver / US Dollar)xagusdshortxagusdtrade

This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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