XAGUSD Weekly Forecast 13 -17 Jan

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Recommendations: LONG positions above 19.60 with 20.35 & 20.75 as next targets.
Alternative scenario: The downside breakout of 19.60 will call for a slide to 19.00/18.40.
Description: The XAGUSD maintained some bullish momentum last week, Initial bias remains to the upside as long as support 19.60holds with risk towards 20.35 ahead of 20.75, a halt is suggested, but break of 20.75 on a 4-hour basis would open 21.30 ahead of 22.00 levels. On the downside, losing the key support 19.60 will turn bias to the downside towards 19.00 ahead of 18.40 levels.

Support and Resistance :17.80, 18.40 ,19.00 ,19.60 ( pivot ) , 20.35 , 20.75 , 21.30 , 22.00 , 22.60

 

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