XAGUSD Weekly Forecast May 19 2014

Outlook in XAGUSD remains on the downside towards the 19.05 levels , a halt is likely , but a breach would open 18.15  next , further downside will aim the 17.40 levels.

On the upside ,resistance at 19.75 levels ahead of  20.14 (main) , stability below this level will keep the pair under pressure , however ; sustained trading – weekly closing – above the 20.14 levels will signal short term bottoming , If seen , the pair will recapture the 21.00/22.17 levels , a break would open 23.30 next , further upside will pave the way to the 24.30 levels.

In all , as long as resistance 20.14 holds on a weekly closing basis , outlook in XAGUSD remains on the downside towards the 19.05 levels ahead of the 18.15  levels , break of 20.14 levels will reverse risks towards the 21.00/22.17 levels…

XAGUSD Weekly Forecast May 19 2014

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