Published On: Thu, Feb 23rd, 2017

XAG/USD: general analysis

InstaForex

Current trend

Yesterday the price of silver continued trading in flat. However, the recent two-month growth in the instrument suggests that silver restored its investment attractiveness and that the price is likely to continue growing.

Today attention needs to be paid to data on Initial Jobless Claims, Housing Price Index and the EIA Crude Oil Stock Change in the US.

Support and resistance

Support levels: 17.75, 17.40, 17.05, 16.50.

Resistance levels: 18.35, 19.00, 19.80.

Trading tips

Long positions can be opened from current prices with the target at 18.35 and stop-loss at 17.50.

Short positons can be opened after the breakdown of the level of 17.75 with targets at 17.40, 17.05 and stop-loss at 18.00. 

Аналитика Форекс

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