`Sell SILVER (XAG/USD) 18/01/2019 (12:33)

`Sell SILVER (XAG/USD) 18/01/2019 (12:33)

On January 18, 2019, Posted by , In Uncategorized, By , , With No Comments

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Silver, has made it to a prominent level of resistance. A weekly level of resistance that started as a support and spans from October 2016. Also this happens to coincide with the descending trend line which also acts as a resistance. Making this an area of confluence. A level of high trading activity. For this reason we are of the belief that silver will follow its counterpart (Gold) as they are correlated to some capacity. It is worth noting that the price is also in the fib zone ], this indicates that the upward move may have come to an end and now it will be headed downwards. Lastly, our oscillator(Stochastics) is overbought, which indicates exhaustion of the upward move. All of this is pointing to a fall in price. Sell Silver at 15.454 with your stop loss at 16.599 and a TP at 9.328>>>>>18/01/2019>>12:33

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