XAGUSD approaching resistance, potential drop!

XAGUSD is approaching our first resistance at 16.83 (horizontal swing high resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement) where price might potentially drop to our major support at 16.33 (horizontal swing low support).
Stochastic (55,5,3) is also testing our resistance and a reaction off this level might be a good precursor for a potential drop in price.
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Chart PatternsForexforexsignalsforextradingHarmonic PatternsTrend AnalysisUSDXAGXAG USD ( Silver / US Dollar)xagusdlongxagusdshort

This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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