• Aug 19, 2024
  • Trade ideas

XAGUSD: Crucial Resistance

XAGUSD, H4

XAGUSDH4.png

In the H4 time frame, XAGUSD breaches above the trendline and faces the 29.00 resistance level. The RSI oscillator indicates overbought conditions, potentially giving a bearish momentum for the asset.

  • If the bulls push the price above 29.00, XAGUSD will rise to 30.50;
  • A rebound from the 29.00 resistance will drop the price to 28.00 support.
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Author: Timur Yurdagyul