XAG / USD: analysis and forecast
On a couple of week
XAG / USD dropped as investors sought to lock in profits after
weakening US dollar. The cost of an ounce of silver fell to a mark
16.84. On Thursday, prices of most commodities rose after
Saudi Arabia launched a bombing of neighboring Yemen. For more
support precious metals market
have unfulfilled hopes of investors to increase interest rates Fed
USA. In his Friday speech, the head of the US Federal Reserve Janet Yellen said that
rate hike can be justified this year, but added that
easing inflationary pressures may force the Fed to postpone the decision.
Support and resistance levels
16.99 (maximum of the Asian session), 17.20 (yesterday’s high), 17.40
(Maximum of 26 March).
Support levels: 16.80
(A minimum of 24 of March), 16.60 (23 March low), 16.20 (the middle line of the indicator
Short positions should
open on level with the objectives 16.60 16.80 and 16.20. Position to buy will
to date, as soon as the pair breaks through the level 17.00. The objectives of long positions
will be the levels 17.20 and 17.40.
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