XAGUSD Daily Forecast Feb 20 2015

silver min
silver min

Outlook in XAGUSD remains on the downside as long as 17.35 resistance holds on a daily closing basis , support comes at the 16.29 levels , losing this level will open 15.69 levels , a halt is likely but a cut would open 14.95 next , further down will target the 14.10 levels.

On the upside , resistance comes at the 16.75 levels ahead of the 17.35 levels (main) , sustained breakout – daily closing above the 17.35 levels is needed to signal short term bottoming , If seen focus will be on the 18.03 levels ahead of the 18.47 levels before the next possible fall..

In all , as long as 17.35 resistance holds on a daily closing basis , outlook in XAGUSD remains on the downside towards the 15.69 levels ahead of the 14.95 levels , break of the 17.35 levels will bring rebound towards the 18.03 levels and possible higher towards 18.47 levels before the next possible fall..

Note that sustained breakout – daily closing – below the 16.29 levels will accelerate the expected bearish move ..

 

XAGUSD Daily Forecast Feb 20 2015

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