XAGUSD (Silver/US Dollar)

XAGUSD Technical Analysis : As of 17th October 2023, silver (XAG) against the US Dollar (USD) is showing signs of a bullish trend. The Relative Strength Index (RSI) is 53.57, indicating neutral conditions, while the Moving Average Convergence Divergence (MACD) is showing a Selling crossover. The silver price has also formed an ascending triangle pattern, suggesting potential upward momentum.

Key Resistance: 22.74
Key Support: 22.46

Traders should closely monitor price movements around these levels. A break above the resistance could signal further gains, while a drop below support may indicate a reversal. Consider your risk management strategy before entering any trade.

On the Basis of TF are :
Minute TF : "Moving Average" & Technical Indicator" are showing bullish movementum
Hourly TF : "Moving Average" & Technical Indicator" are showing bullish movementum
Daily TF : "Moving Average" is neutral but the "Technical Indicator" is showing bullish movementum
Weekly TF : "Moving Average" & Technical Indicator" are showing bearish movementum