Technical Analysis (Silver) : XAG/USD 16 October 2020

Forex Technical Analysis : XAGUSD (Silver)

Date : 16 October 2020

Pivot point : 23.9400

Our preference : long positions above 23.9400 with targets at 24.4000 & 24.6300 in extension.

Alternative scenario : below 23.9400 look for further downside with 23.7500 & 23.5500 as targets.

Comment : even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances :

24.9000 **
24.6300 *
24.4000
24.1640 – Last price
23.9400
23.7500 *
23.5500 **

Warning : This information isn’t a buy-sell signal. Please use this information for the trade guideline.

Source : Trading Central

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