XAGUSD Potential For Bearish Continuation

15. Sept. 2022

On H4, with the price moving below the long term descending trendline and stoch is showing a descending trendline, we have a bearish bias that the price may drop from the sell entry at 19.38914, which is in line with the 23.6% fibonacci retracement and previous swing lows to the take profit at 18.79320, where the 50% fibonacci retracement and overlap support are. Alternatively, the price may rise to the stop loss at 19.66561, which is in line with the overlap resistace.

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