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FX.co ★ XAG/USD approaching major resistance, prepare to sell

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Forex Analysis:::2016-11-16T14:34:31

XAG/USD approaching major resistance, prepare to sell

Price is approaching a major resistance level at 17.189 (Fibonacci retracement, horizontal pullback resistance) where we expect a reversal from for a further drop to 16.637.

RSI (21) is also approaching pullback resistance.

Sell below 17.189. Stop loss at 17.540. Take profit at 16.637.

XAG/USD approaching major resistance, prepare to sell

Analyst InstaForex
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