Silver approaching major support, potential bounce!
XAGUSD is approaching major support at 16.15 (Fibonacci extension, fibonacci retracement, horizontal overlap support) and a stronb bounce could occur at this level to push price up to 16.90 resistance (Fibonacci retracement, horizontal overlap resistance).
We also notice that stochastic is bouncing really nicely with price at the 4.5% support level and we're fast approaching that level once again, which could lead to a corresponding bounce.
We also notice that stochastic is bouncing really nicely with price at the 4.5% support level and we're fast approaching that level once again, which could lead to a corresponding bounce.
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