XAGUSD Forex Analysis for Today
XAGUSD Still Has SELL Potential: Monitor Resistance Area
XAGUSD Analysis
Profit Taking Colors Silver Correction
Silver prices corrected due to profit taking and expectations of a Chinese economic slowdown, which led to a decline in demand from that country.
Monitor Resistance Area
The price pullback is moving towards the resistance area. This resistance area was previously support, which after being breached by the price confirmed a break of structure (BoS).
Prediction: WEAK XAGUSD
Resistance
- R1: 29.500
- R2: 29.000
- R3: 28.500
- R4: 28.000
Support
- S1: 29.050
- S2: 28.221
- S3: 27.800
- S4: 27.393
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